China's Ministry of Commerce is reported to be working together with the China Iron and Steel Association (CISA) and the China Chamber of Commerce of Metals, Minerals and Chemicals of Importers and Exporters (CCCMC) to investigate the speculation activities of iron ore importers. Accordingly, import permits for iron ore are to be reexamined and about 30 enterprises (mostly traders) are to be deprived of their permits.
Currently, 112 enterprises in China possess permits for the importation of iron ore, of which more than 70 are trading companies belonging to the steel mills.