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INDEX NOTICE: Mysteel Iron Ore and Steel Prices Pass IOSCO Review

Shanghai Ganglian E-Commerce Holdings Co.,Ltd., a leading bulk commodities information provider, has successfully completed two independent external assurance reviews of its steel and iron ore pricing indices, being certified that all the indices under the review have been compliant with the related requirements of the International Organization of Securities Commission (IOSCO) on April 30. It is the first time for Mysteel‘s steel pricing indices to be included in the review.
The assurance reviews were undertaken by the independent professional services company Deloitte on 57 iron ore prices and four steel prices regarding their methodologies, data collection  procedure, data archiving and calculation and governance and risk management over the last 12 months, to validate that Mysteel’s prices are in alignment with IOSCO requirements of Governance, Quality of the Benchmark, Quality of the Methodology, Accountability and the other 19 objectives for price assessments.

“On top of the IOSCO compliance review on our iron ore prices in January, 2019, we have decided to include our steel prices into the review in 2020, and us being compliant in both after the series of reviews has been the best proof that we have been adhering to all the related requirements in the framework, government, risk management, and our pricing assessment process are effective, efficient, and repeatable. We are committed to consistently improving and optimizing our pricing management, and we will be endeavoring to apply the same practice to our other prices to guarantee transparency, impartiality, reliability and representativeness to meet international standards”, Zhu Junhong, President of Mysteel, commented.

To get a copy of the assurance reviews, certification list, or methodologies of related prices, please contact us via secretary_imc@mysteel.com.