In terms of iron ore, China's pricing right doesn't match its status as the largest iron ore consumer at all. Now, although pricing model of iron ore has changed to basis pricing, ANBOUND research team believes China shouldn't be blindly optimistic about this change. This is because the change happened in the context that global demand, especially Chinese demand, of iron ore is low. But the three large iron ore producers are still monopolists. Once the demand of China rises again, which is not possible in a short term, the three monopolists will probably try to change pricing model using their monopoly status. For now, China should try to find a way to maintain this basis pricing model for a long time.