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China's first international iron ore trade center debut

(CMIC)
Updated: 2009-06-15 17:22

China launched its first iron ore trade platform Rizhao International Iron Ore Trade Center on May 25, which is scheduled to put into operations in August. The trade center, which is designed to build an electronic commerce platform for bulk iron ore in spot market and serve as an indicator of the world iron ore price index, will have a turnover of 100 billion yuan this year and more than 200 billion yuan a year in the future. A minimum trade volume of 100 tons is required for each transaction with a unit of 10 tons per lot

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