China Iron Ore Spot Trading Platform held sponsor membership certificates awarding ceremony at trading hall of China Beijing International Mining Exchange (CBMX) on April 27 2012.
Wang Xiaoqi, vice chairman of China Iron & Steel Association (CISA), Wang Chunsheng, deputy secretary general of CISA, Xu Xu, chairman of China Chamber of Commerce of Metals Minerals & Chemicals Importers & Exporters (CCCMC), Liu Yinan, vice chairman of CCCMC, Dong Chaobin, president of CBMX and Liang Ruodong, vice president of CBMX attended the ceremony.
Wang Xiaoqi, Xu Xu and Dong Chaobin awarded the membership certificates to the 14 representatives of Baoshan Iron & Steel Co.,Ltd., Angang Group International Trade Corporation, International Economic and Trading Corporation, WISCO, China Shougang International Trade & Engineering Corp, Hebei Iron & Steel Group Co., Ltd., Sinosteel Trading Co.,Ltd., China National Minerals Co.,Ltd., Sinochem International Corporation, CITIC Metal Co., Ltd., China National Building Materials and Equipment Import & Export Corporation, Vale, Rio Tinto, BHP Billiton and FMG.
China Iron Ore Spot Trading Platform was launched under the joint sponsorship of CISA, CCCMC and CBMX on January 16, 2012. Now the platform has more than 70 members. As an independent and public platform operated by a third party, the platform will provide users with standardized and transparent services for iron ore spot trading. The platform will eventually be able to fully utilize the benefits of the iron ore market, objectively and genuinely reflecting supply and demand relationship and creating a fair, just, and transparent international iron ore pricing mechanism, thereby promoting the healthy, regular, and stable development of the iron ore market. China Iron Ore Spot Trading Platform thus welcomes international and China domestic members of mines, steel mills and traders to join in the business and cooperation through the platform.
The platform has entered its testing phase on March 29 and run smoothly. On May 8, physical trading will be conducted.