Affected by the international and domestic steel market, iron ore experienced a long decline of 20 13 to 20 15. Since 20 16, China's iron ore prices have bottomed out and tend to return reasonably. Therefore, the operating conditions of iron ore enterprises have improved month by month.
However, due to the continuous release of global low-cost mineral energy, the pattern of oversupply has not changed significantly in the short term, and the iron ore price is still at a historically low level. 20 18 under the influence of global financial market fluctuations and the collapse of crude oil and other bulk materials, the international steel market finally ended in a weak position.
20 1917 October, the company received a notice from Shandong Jinling iron ore co., ltd., the controlling shareholder, that Jinling iron ore intends to transfer its 348 million shares of Jinling mining (accounting for 58.4 1% of the company's total share capital) to Shandong Iron and Steel Group Mining Co., Ltd. for free.