According to Liu Zhenjiang, an official from CISA, in order to cope with Chinese iron ore import problems, China iron ore association will carry out four measures to curb the domestic iron ore market.
Firstly, in order to cultivate a healthy iron ore market, China will continue implementing the agent system seriously.
Secondly, given to the paramount importance of the domestic iron ore price index, China will continue improve it and increase its release frequency.
Thirdly, as the biggest spot iron ore importer, it is very significant for China to build its own spot iron ore trading platforms, which are beneficial to the transparency of the spot iron ore prices.
Fourthly, apart from the above measures, China will also research the iron ore pricing system actively and try its best to secure a more rational iron ore price for the domestic enterprises.