CISA proposes iron ore reserves

According to the latest research by the China Iron & Steel Association （CISA）, price manipulation worsened in the iron ore market。

CISA suggests the nation adopt iron ore reserves as a national strategy to help balance the development of the industry, Beijing Times reported Wednesday.

Meanwhile, China's crude steel production was pushed up in the international market and the iron ore price has been pushed up since the end of last year. Now the iron ore spot price has hit a historic high of $200 per ton and its index price has reached approximately $180 per ton.