China's CMRG calls for rational trading of iron ore

China's market for iron ore should be further regulated, and speculative trading should be curbed, so that the country's iron ore industry can secure reasonable profits and provide sustainable ore sources to domestic steelmakers, according to China Mineral Resources Group (CMRG), the state-owned company managing domestic mineral resources.

Addressing the expanded board meeting of the China Iron and Steel Association (CISA) at the end of July, CMRG's general manager Guo Bin stressed that Chinese steel producers and traders should purchase iron ore based on their actual demand. "In the first half of this year, China's iron ore market