"The Northern Iron Index" is officially put into use, which can timely and accurately reflect market supply and demand changes.

Our country is the world's largest importer of iron ore, with imports exceeding 1.2 billion tons last year. Yesterday, the Beijing Iron Ore Index was officially launched. This marks the beginning of the use of the "Beijing Iron Index" as the settlement basis in iron ore trade. On the 6th, international mining giants, domestic large steel companies, and important trading companies signed a memorandum of understanding to confirm the use of the "Beijing Iron Ore Index" for trading settlement. This index, released by the Beijing Iron Ore Trading Center, is a comprehensive port spot price index system that can timely and accurately reflect market supply and demand changes.