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<< Back Five parties have decided to build Minmetals Caofeidian International Ore Trading Center in Caofeidian port.
The morning of November 3th witnessed the signing ceremony held in Beijing of China Minmetals Corp with Caofeidian Port Group, HBIS Group, Shougang Group and COSCO Shipping Group. The five parties have decided to increase their investment in building a new environment-friendly, smart, efficient, full-functioned Minmetals Caofeidian International Ore Trading Center in Caofeidian port with an annual capacity of 100mnt, which functions as bonded warehousing, distributing, ore mixing, hedging, financing, spots and futures delivery warehouse.
The trading center is designed for an annual ore mixing capacity of 41 million tons with the yearly trading of over 100 million tons. It will also set up big data for the ore’s importing, mixing, shipping etc., and carry out accurate management, providing customized service and after-sale technical service for mills. Centralized ore mixing will effectively solve environmental problems, promoting the transformation and upgrading of the country’s steel industry.
China Minmetals, as one of the earliest established professional trading companies, boasts over 60 years of experience in commodity import and export with their own logistics as well as long-term, stable sales channels. MCC is renowned for its absolute advantage in the metallurgical construction market with 90% of shares in domestic market and 60% of the world's. MCC has the best knowledge of various types and structures of blast furnaces and the ore needs of domestic major steel mills.
Caofeidian, one of the four ports with a berthing capacity of 400,000 T class Valemax, is excellent in port condition. Its iron ore throughput has accounted for half of the whole Hebei Province’s.
Shougang and HBIS are China's top large-scale mills with tens of millions of tons in production capacity, becoming the most stable core customers of the project. COSCO is the world's largest comprehensive shipping company and the leading provider of integrated logistics and supply chain services. Thus, it is a powerful guarantee for the center’s transportation.
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