Premium Industrial NewsIron Ore Projects Under Construction to Bring 405 Million Tons of Capacity Online
Iron Ore Projects Under Construction to Bring 405 Million Tons of Capacity Online
Industry Segment: Metals & Minerals | Word Count: 417 Words
SUGAR LAND--May 25, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--A recovering steel market is driving up demand for iron ore feedstock at steel mills, especially in China. Global iron ore mine production was about 2.4 billion tons in 2020, according to the U.S. Geological Survey (USGS), which is down slightly from 2019, mainly due to a pandemic-related supply-and-demand slowdown. However, demand has improved, starting in the second half of 2020 and continuing in 2021. Iron ore prices reached record highs of greater than $220 per tonne this month. Brisk demand, coupled with supply disruptions, have driven up prices this year.
This Premium Article can be purchased individually or as part of a subscription
Subscribe Now!(All Fields Required)
Articles related to this company
- Rising Asian Iron Ore Demand Drives $31 Billion in Mining Projects in Austr...
- Will Australia's Iron Ore Market Benefit from Brazil's Dam Disaster?--an In...
- North American Metals & Minerals Construction Starts Increase by $10 Billio...
- Tesla Signs Latest Battery Metal-Supply Agreement, But Project Delays Highl...
- Enterprise Products Partners, Chevron: Your Daily Energy News