The China Iron and Steel Association (CISA) says the iron‑ore value chain has
long been structurally imbalanced—large international miners have earned
outsized profits while Chinese steelmakers faced margin pressure—hurting
industry sustainability. Calls for rule changes and value alignment have
intensified, and CISA says the market structure is undergoing deep adjustment
toward a fairer, more transparent and sustainable order. Drivers cited: China’s
very large market is acting as a stable offset to global supply variability;
diversified sources of supply are being developed; resolving upstream‑downstream
distribution imbalances has become consensus; and more objective, transparent
pricing mechanisms are emerging. CISA noted dollar‑denominated indices were
Historically based on a small number of trades by a few international miners,
whereas China’s large port spot market prices better reflect actual
supply‑demand conditions.
