China Floats Iron Ore Price Index

China has rolled out its own iron ore price index on Monday,All Headline Newsreports. The index has been unveiled in a bid to gain an increased say in global pricing by the country, the biggest user of iron ore raw material. The index uses iron ore prices of April 1994 as its base for computation, and is released weekly. It covers two indices, one for domestically produced iron ore and another for imported ore.

TheChina Iron and Steel Association(CISA), theChina Chamber of Commerce of Metals,Minerals and Chemicals Importers and Exporters, and theMetallurgical Mines' Association of China共同编制了China Iron Ore Prices Index.

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