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Interview: More info. on new Iron Ore Price Index

09-21-2011 10:54 BJT

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China is well-known to be the world's largest steel producer, but what is less known is that it lacks its own official price index for iron ore, the raw material used in steelmaking. On October 1st, China will finally launch its own, meant to serve as a reference for the nation's massive steel industry... Full story>>

For more analysis of the new Iron Ore Price Index, we're now joined on the phone by Mr. Li Yong, Assistant Chairman of China Association of International Trade.

1. If I understand correctly, its own price index will not actually affect the prices for iron ore, it'll just keep better track of them. So why is this such an important move?

2. Do you think the index can achieve those goals?

Editor:Li Wanran |Source:

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