With approval of the People’s Government of Beijing Municipality and relevant competent authorities, Beijing Iron Ore Trading Center Corporation (hereinafter referred to as “COREX”) is the first Sino-foreign joint-stock trading venue jointly initiated and established by relevant industry leaders, such as China Iron and Steel Association, BAOWU, HBIS, ANSTEEL, SHOUGANG, China Minmetals, CITIC, SINOCHEM, Vale, BHP Billiton, Rio Tinto and FMG. COREX is the operator of China Iron Ore Spot Trading Platform (hereinafter referred to as “the Platform”). The Platform was unveiled for operation on May 8, 2012. Through electronic trading system, the Platform provides efficient and convenient e-commerce channels for iron ore producers, traders and smelters at home and abroad.

Since its establishment, COREX always spares no effort to tap into iron ore spot trading market, gives full play to its advantages in service optimization, product innovation, technological empowerment, operational standardization and data credibility, and dedicates to rendering spot trading, market management, business consulting and other services for upstream and downstream enterprises in the industrial chain.

Thanks to unswerving efforts over many years, COREX has become the industry's leading iron ore spot trading platform. As of March 31, 2024, COREX had 586 members, clinched 11,464 transactions in cumulative total, realized trading volume of about 455million tons and trading amount of about USD48.5 billion. Platform trading data has not only become a data source for domestic and foreign index institutions and market barometer, but also an important part of the iron ore swap settlement price of Shanghai Clearing House under the PBC.

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, which was issued on September 7, 2020, expressly clarifies to facilitate COREX to establish a scientific and reasonable commodity pricing mechanism. This not only puts forward more demanding and more distinct requirements for the future development of COREX, but also gives new impetuses into the innovation-oriented development of COREX.