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Press Release
Transaction Volume Broke 100 Million Tonnes on COREX
Source:COREX   Time:2016-11-30 14:00:54

On November 29, 2016, a 240,000 tonnes of combo shipment of Newman Fines and Jimblebar Blend Fines was transacted on China Iron Ore Trading Platform (hereinafter referred to as the “Platform”), marking the accumulative transaction volume reached 100 million tonnes on the Platform.

On May 8, 2012, the Platform was officially launched. There are 135 members including steel mills, mines and traders at home and abroad with three trading boards, namely, Delivering A, Bonded Zone B and On-port D; members are allowed to trade at fixed price or floating price. In accordance with the needs of risk management in the futures and spot market, pricing trading mode was initiated in October 2016 on the Platform.

According to statistics, fixed price transaction accounted for 68% in the total volume of 100 million tonnes with 16 mainstream trading brands such as PB Fines, IOCJ, BRBF, Newman Fines. The Platform has played an important role in serving domestic physical economy, reflecting real supply-demand relationship in the physical market and discovering global iron ore price.

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