China officially launched its iron ore price index on September 20, a move believed to better reflect the domestic market and give the country a greater say in global pricing.
The China Iron Ore Prices Index, which will be released on a weekly basis starting in October, is made up of two sub-indices: the domestically produced iron ore price index and the iron ore import price index.
The domestic iron ore price index is based on the prices of iron ore concentrates in 14 provinces, autonomous regions and municipalities as well as in 32 mining areas. The import price index is collected based on data from eight ports. |