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According to the 2019 International Energy Agency (IEA) report, the iron and steel industry directly contributed 2.6 Gt to global CO 2 emissions and accounted for 7% of global energy demand. [1] Singapore is the world's main trading hub for iron, [2] with about 90% of the world's iron ore derivatives traded on their stock exchange. [3]
This 170 million tonnes of iron ore generated revenue of $20.2 billion, or 31% of total revenue, indicating that the company sold its iron ore production for an average price of $118.90 per tonne.
Of the iron ore exported, 38.5% of the volume was iron ore pellets with a value of $2.3 billion, and 61.5% was iron ore concentrates with a value of $2.3 billion. [40] 46% of Canada's iron ore comes from the Iron Ore Company of Canada mine, in Labrador City, Newfoundland, with secondary sources including the Mary River Mine in Nunavut. [40] [41]
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Argus launched coverage of the global iron ore market with daily report Argus Steel Feedstocks in February 2013. [17] Argus expanded its metals coverage further in 2015, after acquiring MetalPrices.com [ 18 ] - a specialist pricing, news and analysis service focusing on speciality metals, rare earths and ferro-alloys.
The following is a list of countries by iron ore exports. Data is for 2012, 2016 & 2023, in millions of United States dollars, as reported by The Observatory of Economic Complexity and the International Trade Centre. Currently the top twenty countries (as of 2023) are listed. * indicates "Natural resources of COUNTRY or TERRITORY" links.
Although in 2014, the US mined only 1.8 percent of all iron ore mined worldwide, the US was previously a much larger factor in the world iron ore market. From 1937 through 1953, US iron ore made up more than a third of the world's iron ore production; the proportion of world iron ore mined in the US peaked in 1945 at 56 percent.