[Mining Machinery Industry Network] According to reports, the Qingdao Port last week began a special inspection, investigation by repeating the pledge of warehouse receipts to obtain trade financing behavior, Qingdao Port has been stopped iron ore, aluminum and copper departure. Industry insiders said the move would adversely affect the iron ore market, some foreign banks may therefore stop providing financing for Chinese enterprises to import commodities.

After the news, the first time the great wisdom news agency interviewed a number of investors. Most of them said that the current international iron ore market is in a "Chinese demand contraction" and "mine supply to expand," the double attack, and once as a result of this incident, the foreign banks to stop providing financing for Chinese enterprises to import, will make the already dwindling Chinese demand suffered a greater blow, and then continue to drag on iron ore prices.

On Friday, since Dalian iron ore futures prices hit a new low listing, closing at 680 yuan / ton. Platts index also dropped to 62 percent lower this year, June 2 Daily $ 91.75, the lowest price from the 2012 $ 88 one step.