In order to reflect the Chinese iron ore market more accurately, CISA has issued its own iron ore price indexes today (CIOPT). It is calculated on the basis of the home-made iron ore price index and imported iron ore price index.
At present, the iron ore pricing for iron ore producers as well as steelmakers are largely based on the indexes compiled by Platts, which has been questioned by CISA for a long time for its usage of taking the spot iron ore prices in just several regions to represent and guide the global iron ore prices.
The details of the CIOPT are shown as follows:
