China weakened the restrictions on the import of metallurgical raw materials

Today, for the first time in four years, Chinese traders can independently and without restrictions to purchase iron ore and scrap metal from foreign companies. These measures became the last point in China's attempts to regulate the import of metallurgical raw materials in the wake of anxiety about growing dependence on external markets. Reuters writes about this today.

The Internet platform launched today is the free registration of contracts for the supply of iron ore fully corresponds to the Beijing line to weaken state intervention in market relations.

Although the trading platform that has opened today in ZHICHAO is already the third in a row, it will become the first unofficial platform of unifying investors, traders and other market participants without state intervention. Trading on Zhichao was first carried out in 2009, but after some time the site was closed under pressure from the Association of Cast iron and China became, who wanted to introduce total control of the prices and supply of ore.

China consumes two -thirds of all iron ore in the world delivered by sea routes, and the port in Zhichao - one of the largest terminals for its processing. Equal for all the possibilities of using such a large logistics node as a Port ZICHAO will make the pricing of iron ore raw materials more transparent and attract a large number of investors, Chinese analysts say.

From a peak value of almost 200 dollars per ton in February 2011, an iron ore with a content of 62 percent of iron in September last year updated a three -year -old minimum of $ 86.70 per ton. Today, the price of iron ore raw materials in world markets on average is $ 120 and decreases.

According to forecasts, in 2013 the average cost of a ton of iron ore will be $ 100 - 110 per ton.