On August 10, E-tender Board of COREX system was officially launched, and members such as Xiamen ITG Group Corp., Ltd., Hunan Valin Steel Company Ltd., HBIS Group Beijing International Trade Co., Ltd. and Shougang Changzhi Iron & Steel Co., Ltd released procurement and sales tendering information through the board, involving trading brands such as FMG Super Special Fines, IOC6 and Chilean Concentrate and delivery place such as Tianjin Port, Lanshan Port, Lanqiao Port, Rizhao Port, Dongjiakou Port and other ports along the Yangtze River.
With the increasing improvement of the modern management system of enterprises, the demand of enterprises for open, transparent, and market-oriented procurement and sales through third-party platforms has become prominent. Based on this, COREX has launched tendering services since October 2017 and closed more than 600 tenders with a volume of nearly 15 million tons in the past four years.
To further enhance its comprehensive service capacity, COREX, together with Xiamen ITG Group Corp., Ltd. and other companies, launched the iron ore spot E-tender Board after the in-depth research. COREX provides tendering services for mines, mills and traders from the upstream, midstream and downstream of the industry chain, aiming to meet the needs of industry enterprises for trading compliance, convenience and diversification of purchase and sales channels, and to help member enterprises develop in a healthy and high-quality manner.
COREX, as an independent, open and transparent third-party trading platform, will continue to adhere to a market-oriented, internationalized and standardized operation. In the future, it will promote the establishment of a scientific and reasonable commodity pricing mechanism by playing the function of commodity circulation and price discovery and reflecting the true supply and demand. This will ensure the healthy and stable development of China's steel industry and promote the win-win development of the upstream, midstream and downstream of the industry chain.
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