Beijing Iron Ore Trading Center Corporation (hereinafter referred to as the “COREX”) is established on 29 August 2014. It is a sino-foreign joint stock company approved by the People’s Government of Beijing Municipality and relevant competent authorities, and initiated by China Iron and Steel Association, Baoshan Iron & Steel Co., Ltd, ANSTEEL Group, Shougang Group, Hebei Iron & Steel Group, China Minmetals Corporation, CITIC Group, Sinochem Group, Companhia Vale do Rio Doce, BHP Billiton Ltd, Rio Tinto Group, Fortescue Metals Group Ltd (FMG) and other relevant industry leaders. COREX was originally established to build an independent, open and transparent integrated iron ore trading service platform, and promote the establishment of a scientific and reasonable iron ore pricing mechanism.

As of October 31, 2020, China Iron Ore Spot Trading Platform (hereinafter referred to as the "Platform") operated by COREX, has made a total of 2,715 transactions, with a transaction volume of over 256 million tons and a transaction value of about 21.7 billion U.S. dollars. The platform adopts a membership system, with 453 member enterprises from Southeast Asia, Europe, South America, Australia and other countries and regions, and has wide industry representation.

COREX has an electronic trading system with full independent intellectual property rights, providing a convenient e-commerce channel for iron ore production, trade and smelting enterprises at home and abroad. COREX has become an important vehicle to serve the real economy at home and abroad and to secure the supply of raw materials for China's steel industry.