In 2020, under the influence of the new crown pneumonia epidemic, the economic globalization encounters the counter-current. For China's iron and steel industry, the overall profit level than the same period last year dropped significantly. Li Xinchuang, party secretary and Chief Engineer of the Metallurgical Industry Planning and Research Institute, pointed out recently at the "2020(9th) high-end Forum on China's steel raw material market" , iron and steel production raw material supply chain fragile, unstable supply channels re-highlighted the problem, mainly in six areas. First, the domestic resource endowment is poor, limited production capacity and output. China's iron ore and manganese ore resources are endowed with "poor, miscellaneous and fine" resources, which are difficult to use, disturbed by the environment and pressure for safe production, it is difficult to guarantee the demand for raw materials effectively. Second, the dependence of raw materials on foreign countries is high, import sources are highly concentrated. China's iron ore, manganese ore, nickel ore are over 80% dependence on foreign, chrome ore almost all rely on imports, the future of China's iron and steel raw materials will maintain this situation for a long time. Third, the construction of overseas production bases of high-quality and low-cost mineral resources has made slow progress, and the security capacity of iron ore resources is seriously inadequate, which makes it difficult to effectively hedge the impact of the fragility and instability of the supply chain of mineral resources. Fourth, there is no substantial progress in restructuring the pricing mechanism for raw materials, and the price of raw materials fluctuates significantly. Serious impact on the safety and smooth operation of the steel industry. Fifth, due to policy restrictions, it is difficult to effectively play the protection capacity of renewable steel raw material resources. China's imports of scrap steel totaled 17,300 tons from January to August 2020,90.2 percent less than the same period last year. Sixthly, the construction of raw material trade system needs to be improved. First, the construction of transportation channels, China's iron and steel bulk raw materials shipping routes are less substitutable, and the share of domestic transport is lower; second, to speed up the construction of the financial trade system, improve the raw materials financial products mechanism. "On the whole, the problem that the resource guarantee system of China's steel industry lacks top-level strategic planning and the system is not perfect has once again become a hot topic for the industry. " Li Xinchuang stressed that during the 14th five-year plan period, the steel industry needs to firmly implement the new development concept, accelerate the establishment of a long-term, stable, efficient and diversified high-quality resource guarantee system, and strengthen the linkage between international and domestic double-cycle supply. To this end, Li Xinchuang made five suggestions. First, we should make full and efficient use of both domestic and foreign resources and strive to form a high-level guarantee pattern for domestic and foreign dual-cycle raw materials. Domestically, through "green, intelligent, base-oriented, international, modern, market-oriented" coordination, to enhance the competitiveness of domestic mines, increase the supply of domestic mineral raw materials, stable domestic resource circulation. In foreign countries, we should further develop the import trade of mineral products, and diversify the sources, methods, varieties and channels of import We will actively participate in the development and governance of the global mining industry, establish overseas resource protection bases, and "go global" with the integrated industrial chain binding model of resource development, steel production capacity layout and infrastructure construction, so as to promote the formation of an international cycle. The second is to improve the price mechanism and raw material financial system to reduce the impact of cost fluctuations in the Iron and steel industry. We will further improve and optimize pricing mechanisms for raw materials such as iron ore and coking coal, strengthen the construction of trading platforms, build a strategic financial system for raw materials such as iron ore, and strengthen international trade dialogue mechanisms with major international traders Through further enhancing the Concentration ratio, enhancing the right of trade discourse, ensuring the smooth and reasonable operation of the iron ore price system, and reducing its impact on the cost fluctuation of the iron and steel industry. Third, increase scientific and technological innovation, reduce the demand for traditional raw materials, increase the diversified supply of alternative resources. Speed up the process structure adjustment of iron and steel industry, actively develop low-carbon metallurgy, promote the green and low-carbon intelligent development process of iron and steel industry, accelerate the improvement of scrap steel recycling efficiency, reduce the demand for traditional raw materials. Fourth, we should consider establishing a strategic resource reserve system. The strategic reserve system of manganese, chromium, nickel and other resources should be established appropriately, and different reserve scales and plans should be made according to different grades, so as to provide basic guarantee for the safe supply of iron and steel raw materials in China. Fifth, promote the high-level and healthy development of domestic metallurgical mines by digitalization and intelligentization.