China’s largest steel industry body to set up iron ore committee
COMMODITIES POLICY & REGULATION
China’s largest steel industry body to set up iron ore committee
COMMODITIES POLICY & REGULATION

China’s largest steel industry body to set up iron ore committee

 

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The China Iron and Steel Association (CISA), the country’s largest steel industry body, will set up an iron ore working committee, in a move to strengthen the study on important issues about iron ore and promote high-quality development of the steel industry, the association said in a statement on Monday.

The committee will be a independently-managed and self-discipline body, and it will initially consist of large steelmakers and the newly established China Mineral Resources Group Co., Ltd, the CISA said.

The association currently has seven working committees and the existing raw material working committee’s responsibilities will be adjusted and focus on works regarding materials excluding iron ore, the association said.

Notably, China Mineral Resources Group was set up in Xiongan New Area, North China’s Hebei province, in July in a long-awaited move that is expected to give the country a bigger say in iron ore pricing. With a registered capital of 20 billion yuan ($2.97 billion), the new giant will engage in exploration of mineral resources, ore mining, import and export of minerals, as well as supply chain management services, investment activities and asset management services, according to China’s corporate registration information platform Tianyancha. Read more …