Abstract: In iron ore import trading, contract is very important and the inspection indices are an important item next to chemical analysis in contract specifications. In iron ore import trade, chemical indices are generally paid great attention to by ordinary trade companies while for the specifications for physical inspection, the previous contract or even the sample ones in relevant trade handbooks may used directly in the design, which can often lead to some faults or even immeasurable loss in iron ore trade practice. To well design the physical inspection indices in an iron ore trade contract, the types of the inspection indices and their functions should be well understood. Only in this way can an effective evaluation of the testing results listed in the foreign issued iron ore quality certificate and potential quality factors be made and physical inspection clauses be designed that bind both parties so as to achieve a win-win final goal.

Key words: Iron ore import, Contract specification, Design