Netease Finance and Economics September 20 Xinhua China Iron and Steel Industry Association (hereinafter referred to as "China Steel Association") will officially launch the "China Iron Ore Price Index" on the first Monday in October. This morning, SISCO will hold a press conference at Diaoyutai State Guesthouse to explain the design scheme of CISCO's iron ore price index.
Netease Finance and Economics understands that the official price index will not be released at this conference. It will only explain the relevant design schemes and operating principles. At that time, there will be many departments including the National Development and Reform Commission, the Ministry of Industry and Information Technology and the Ministry of Commerce.
It is reported that the CISCO Xieban Iron Ore Price Index has been tested in the iron and steel industry since August. According to the original plan, the index will be officially published in October. Prior to that, insiders of CISA said that the index had a good reaction during its internal operation. CISA also compared its own index with several indexes at home and abroad. The trend of development was basically the same, but there were differences in the range of change.
It is reported that the CISCO Xieban Iron Ore Price Index will be composed of two sub-indices: the domestic iron ore price index and the imported iron ore price index. Domestic iron ore price index is calculated on the basis of dry-base iron concentrate prices in 14 provinces, municipalities and 32 Mining areas. Import iron ore price index is calculated on the basis of relevant data of iron and Steel Association and member enterprises of Minmetals Chamber of Commerce, and refers to the transaction prices of imported iron ore market in 8 domestic ports as basic data. Finally, weighted calculation is made. "China's iron ore price index".