CISA is considering launching a domestic iron ore price index to compete with the likes of Metal Bulletin and Platts. China Iron & Steel Association which has opposed the use of foreign indexes in the setting of iron ore prices wants its own pricing mechanism to enhance its bargaining power.

CISA plans to start with a domestic price index and extend it to imported iron ore in the future.

So far, the research has been done but there is no time frame yet for launching the index.