MOFCOM Took Measures to Regulate Import Order of Iron Ore

The Official pointed out that at the beginning of 2006, several foreign suppliers not only participated the long-term agreement negotiation but also sold goods at Chinese market with high prices, violating the international pricing rule and affecting the established long-term cooperation. Applied by enterprises of iron and steel of China, MOFCOM Department of Foreign Trade took a temporary technical measure to check the imports of goods, which was just against the unfair trade practice such as high-price illegal transaction and was beneficial to maintain the recognized international pricing mechanism.

The Official said that the measures basically came into effects anticipated. In view of the above-said situation, MOFCOM Department of Foreign Trade adjusted original administrative measures in recent days:

1, to release automatic import license within 10 working days when receiving enterprises' application according to regulations of automatic import license; 2, to go on enhancing supervision and analysis on import volume, price and countries of origin of iron ore to prevent illegal transaction at high price and behaviors of disturbing market order, and to maintain fair trade order; 3, to prevent enterprises from providing iron ore to small-sized blast furnaces which brought on environmental pollution and resources wasting, and was pronounced obsolete by formal State decrees.

The Official said that MOFCOM Department of Foreign Trade would maintain enhancing the supervising and analysis on iron ore import in accordance with Rules for the Administration of Automatic Import Licenses of PRC and relative WTO rules, would timely provide information service for enterprises to further regulate import order and promote the healthy development of iron ore trade