According to CoinMeta, the China Iron and Steel Association stated that the iron ore market is gradually establishing a new order that is more fair, transparent, and sustainable. For a long time, there has been a structural imbalance in the iron ore industry chain, with uneven distribution of benefits between international mining companies upstream and domestic steel enterprises downstream, which affected the healthy development of the industry. In recent years, there has been an increasing call for rule restructuring, and the market landscape is undergoing profound adjustments. China, with its super-large market, is offsetting global supply uncertainties and is building a diversified resource supply system. Solving the structural imbalance of interests between upstream and downstream parties has become a consensus. At the same time, a more objective and transparent iron ore pricing mechanism is also being gradually established.