Iron Ore Trading Platform in China - Chinese Initiative for Iron Ore Price Discovery

Iron Ore Trading Platform in China - Chinese Initiative for Iron Ore Price Discovery

Summary

China, the biggest consumer of iron ore in the world, has created its new online electronic exchange, the China Beijing Metals Exchange (CBMX), in order to initiate price discovery and fixation of spot prices for iron ore purchase and sale transactions. The exchange is globally the first online electronic trading platform and aims to be a standard in iron ore pricing.

Scope

• The report provides a brief overview of the Chinese iron ore trading platform with a pictorial presentation of the business procedure
• The rationale behind the formation of the exchange
• The platform's founding members, business volume at CBMX and factors which may affect business volume, takeaway for participating mining companies, competing platform - GlobalOre and a short analysis of the future of the trading platform.

Reasons to buy

• Obtain an understanding of the Chinese Iron Ore Trading Platform.

Keywords

Iron ore, trading, platform, overview, rationale, genesis,founding members, takeaway, competing, GlobalOre, business volume