On December 18, the 11th China Iron Ore Trading Platform Member Conference was held in Hangzhou. Luo Tiejun, vice president of the China Iron and Steel Association, attended the conference and delivered a speech. He comprehensively analyzed the current operation trend of the steel industry and the development status of the iron ore industry chain, discussed in depth the optimization path of the iron ore pricing mechanism, and called on all parties in the industry chain to deepen cooperation and collaborative development to jointly promote the high-quality and healthy progress of the industry. The Beijing Railway Index is based on actual port spot transactions and should be the core reference for pricing. In order to further improve the Beijing Railway Index, Luo Tiejun called on all parties to participate actively: China Mining Group should include domestic indices in pricing choices in negotiations with the four major mine chiefs; the Beijing Railway Center should expand data coverage and collect more iron ore transaction data of different grades to lay the foundation for a rich index system; trading companies and steel companies boldly use the North Railway Index to price in domestic mining and trade mine transactions, and provide timely feedback on transaction prices to form a continuous and complete trading data chain. At the same time, the industry needs to continue to study the relationship between domestic indices, swaps, and futures to clarify the logic of market composition and price formation.

On December 18, the 11th China Iron Ore Trading Platform Member Conference was held in Hangzhou. Luo Tiejun, vice president of the China Iron and Steel Association, attended the conference and delivered a speech. He comprehensively analyzed the current operation trend of the steel industry and the development status of the iron ore industry chain, discussed in depth the optimization path of the iron ore pricing mechanism, and called on all parties in the industry chain to deepen cooperation and collaborative development to jointly promote the high-quality and healthy progress of the industry. The Beijing Railway Index is based on actual port spot transactions and should be the core reference for pricing. In order to further improve the Beijing Railway Index, Luo Tiejun called on all parties to participate actively: China Mining Group should include domestic indices in pricing choices in negotiations with the four major mine chiefs; the Beijing Railway Center should expand data coverage and collect more iron ore transaction data of different grades to lay the foundation for a rich index system; trading companies and steel companies boldly use the North Railway Index to price in domestic mining and trade mine transactions, and provide timely feedback on transaction prices to form a continuous and complete trading data chain. At the same time, the industry needs to continue to study the relationship between domestic indices, swaps, and futures to clarify the logic of market composition and price formation.