Qu Xiuli, vice president of the China Iron and Steel Association (CISA), has stated at the 4th China Steel Derivatives International Conference 2019 held in Shanghai that the rapid rises in import iron ore prices during the first half of the year have attracted the attention of the relevant ministries and commissions in China. Ms. Qu stated that China will probe into the reasons for quick rises in import iron ore prices, and will severely crack down on any irregular behaviors such as arbitrary price increases and price monopolies.
The CISA official indicated that the China Iron and Steel Association (CISA) has recently held meetings to discuss iron ore market with Chinese major steelmakers, including Baowu Group, Ansteel Group, Shougang Group, Hebei Iron and Steel Group, Jiangsu-based Shagang Group, Hunan Valin Steel Group and Shandong Iron and Steel Group. An iron ore team has been set up, with Baowu Group as the team leader, to research the key issues in the import iron ore market, including iron ore supply and the iron ore import pricing mechanism.