The long-term agreement price mechanism of 20 10, which was delayed for 40 years, was broken, and the speed of iron ore financialization accelerated year by year. The iron and steel industry in China relies on iron ore imports, which makes the iron ore price always a pain in the heart of the industry. China has also been working hard to improve the pricing power of iron ore.

From 2065438 to September 2002, the monthly trading volume of iron ore swap business of Singapore Stock Exchange has reached177.07 million tons, which is dozens of times that of the market when it was established in 2009. The rapid expansion of overseas iron ore derivatives market reflects the huge demand for hedging after the high price of ore falls back. Many overseas financial institutions, including SGX, are actively promoting iron ore swap transactions in China, and more and more domestic enterprises are also involved.

The conditions for establishing an iron ore futures market in China are good: China imports half of the world's iron ore seaborne trade every year. Of the 686 million tons of iron ore imported in 20 1 1, more than half are traded in the spot market. There are many iron and steel enterprises and traders engaged in iron ore trading in China, which provides a guarantee for the active trading in the future futures market.

20 12 10 10 In mid-October, Li Zhongjuan, deputy inspector of the Industry Coordination Department of the National Development and Reform Commission, said at the closing ceremony of the special topic "Study on the Impact of Iron Ore Futures on the Development of China's Iron and Steel Industry" that the conditions for promoting the introduction of iron ore futures in China are gradually maturing. Chen Wei, director of the Industrial Products Division of Dalian Commodity Exchange, subsequently revealed to the media that the iron ore futures of Dalian Commodity Exchange had been established in the CSRC. At this point, iron ore futures have gradually approached the road of listing.