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Trading light at new iron ore platform

(Global Times)

08:24, May 23, 2012

China's first physical iron ore trading platform showed thin trading volume in the first two weeks following its official launch on May 8, with six deals concluded in the first week and only two deals in the second.

According to the platform's operator, the China Beijing International Mining Exchange, this situation was mainly due to weak demand for iron ore in the bearish downstream market.

The new platform only provides a channel for iron ore trading, and is not meant to affect supply and demand pressures in the market, analysts say.

The latest data from customs authorities show that China's iron ore imports declined to 57.69 million tons in April.

Email|Print|Comments(Editor:厉振羽、张洪宇)

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