Promoting the Establishment of a Scientific and Reasonable Commodity Pricing Mechanism, and Developing into a Global Pricing Platform in the Iron Ore Industry
Marketization, Internationalization, Standardization
Discovering prices through the market, revealing the authentic relation between supply and demand, and contributing to real economy
Commodity Circulation and Price Discovery
Independence—independent operation, objectiveness and neutrality
Openness—collaboration with mines, steel mills, traders and various types of service organizations at home and abroad for the win-win development
Transparency—standardized operation, publicity and transparency, with a high degree of trustworthiness and credibility
January 16, 2012 The launch ceremony of “China Iron Ore Spot Trading Platform”, co-sponsored and established by China Iron and Steel Association, China Chamber of Commerce of Metals, Minerals & Chemicals Importers & Exporters and China Beijing International Mining Exchange, was grandly held.
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Electronic trading system of the Platform went live, and the Platform was formally put into operation.
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Benchmark Prices in USD and RMB for Grade 58%, Grade 61.5% and Grade 65% were formally released.
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At the first anniversary of the Platform, the transaction volume of the Platform exceeded 13 million tons in total.
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The first floating-priced transaction on the Platform was completed, with price term of the monthly average price of the index at a premium and transaction volume of 180,000 tons.
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Benchmark Price of the Platform was adopted by Clearing House Financial Market Co., Ltd. (“Shanghai Clearing House”) as RMB-denominated iron ore swap settlement price.
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COREX and Zhanjiang Port Group signed a cooperation agreement to jointly build South China Center of the Platform.
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The annual trading volume of the Platform exceeded 30 million tons, up 88% on a year-on-year basis.
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The Platform initiated pricing trading, and completed the first transaction.
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The cumulative trading volume of the Platform exceeded 100 million tons.
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COREX won the honorary title of “Chinese Enterprise for Bulk Commodity Modern Circulation Service Innovation for Year of 2018”.
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COREX and the People’s Government of Caofeidian District of Tangshan City signed a framework agreement for mutual cooperation on Caofeidian Iron Ore Index in Beijing.
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Reply of the State Council on Pilot Program on Comprehensive Pilot for Advancing a New Round of Service Industry Opening-up Expansion in Beijing and Building Comprehensive Demonstration Zone for National Service Industry Opening-up Expansion expressly clarifies to facilitate COREX to establish a scientific and reasonable commodity pricing mechanism.
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The mobile terminal of COREX trading system (COREX APP) was launched online.
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COREX realized the annual transaction volume of over 60 million tons.
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COREX launched the first independent third-party iron ore spot e-tender system in China.
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COREX and DCE signed a strategic cooperation agreement to jointly explore the development of iron ore futures and spot market, covering iron ore non-standard warehouse receipt business, basis difference trading, index publication, and collaboration of industry and finance.
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COREX started to publish 61% benchmark price ( ￥ dmt ) and two equivalent prices, including seaborne equivalent price ($/ dmt ) and portside equivalent price ( ￥ wmt ).
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