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China steelmakers challenge Platts iron ore pricing: Commodities

Posted on 29 May 2013

Chinese steelmakers, the world’s biggest iron ore buyers, are questioning the reliability of the main industry price index for the raw material provided by Platts, citing concerns about transparency and trading volume.
“We are skeptical because we don’t know the size of the deal samples and how they work out the indexed prices,” Wang Liqun, deputy general secretary of the China Iron & Steel Association, said in a phone interview. “If the daily price is based only on one deal a day, can you trust it?”…………………………………..Full Article: Source


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