Measures about perfection of iron ore assurance to be unveiled
Source: www.mlr.gov.cn Citation: www.chinamining.com.cn Date: Feb.25, 2014
A group meeting on coordination and protection mechanism of iron ore resources was held by Raw and Semi-finished Materials Industry Department of Industry and Information Technology in Beijing a few days ago. The meeting proposed that many measures would be unveiled to ensure the iron ore protection in china. Mao Zhimin, the deputy director of Raw and Semi-finished Material Industry Department, analyzed the present market situation of iron ore. He pointed out that we had better rely on market mechanism adequately and reinforce the security work of iron ore assurance.
The meeting indicated that the year of 2013 played a pivotal role in iron and steel industry structure adjustment. Crude steel production of the whole year increase by 7.5％ to 77.9 million tons. The higher demand levels posed certain difficulty for iron ore assurance. However, the member units which works for iron ore resources coordination and protection mechanism made full use of their advantages and they boosted all work actively. Various trading modes such as long-term supplies, spot goods transaction, futures exchange and so on were formed. The supply pipeline of domestic ore, equity ore, imported ore, etc. is being broadened continually. Price Indices of iron ore is being accepted by the industry gradually.
Participating members thought that production capacity of steel industry was excess seriously, the manufacture requirement would still keep increasing, iron foreign-trade dependence would continue keeping high, supply ＆demand was strained as before. In order to do a good job in iron ore assurance, the working group decides to put emphasis on the following seven aspects: First, keep on reinforcing resolving contradictions of steel overcapacity. Second, keep on supporting iron ore spot transaction platform to make it larger and stronger. Third, focus on expanding the influence on iron ore futures market. Fourth, study and research the feasibility of comprehensive index. Fifth, propel iron mine development plan-making work in medium and long term. Sixth, consummate iron ore import information and pre-warning mechanism. Seventh, straighten the resolve and research of related policies and measures. (Translated by TLRHVC)
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