CONF: Mutually-beneficial iron ore pricing necessary
Chinese steel mills and iron ore suppliers should be working towards a mutually-beneficial iron ore pricing scheme for the sustainable development in the long run for both parties, Liu Zhenjiang, Secretary General of the China Iron & Steel Association (CISA) said at the Singapore Iron Ore Forum on May 24.
“The iron ore market should not rely on a single pricing index for its prices, and every index has its pros and cons, so it should be a mix of a few pricing indices as references to better reflect the real market situation so as to lower pricing risks more efficiently,” he emphasized when speaking at the SGX event in Singapore.
