SHANGHAI, July 8 (Reuters) – China’s first non-official physical iron ore trading platform will begin operations on Tuesday, four years after it was shut down, in a further sign that the government is relaxing its tight grip over imports of the raw material.
China, which buys around two-thirds of global seaborne iron ore, already scrapped a decade-old iron ore import licensing system at the start of this month, eliminating middlemen and cutting costs for domestic steel mills.
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Reuters Staff via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/F1Z36OV9gKE/
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