Article | REF: M7041 V1

Iron ores - geographical and economic aspects

Author: Jacques ASTIER

Publication date: March 10, 2011

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ABSTRACT

The aim of this article is to study the geographic and economic aspects of iron ore production. At the moment we are witnessing a rapid growth of supply and demand, and therefore, in turn, of global production. The preparation of iron ore has had to be reassessed in the light of this development, without neglecting the quality of production of these minerals. Similarly, international trade and maritime trade have benefited from this development, resulting in cost changes in extraction, preparation and transportation, but also the price of iron ore (bench mark system, creation of a "spot" market, etc.).

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AUTHOR

  • Jacques ASTIER: Former Director of the French Iron and Steel Research Institute (IRSID) - Consulting Engineer

 INTRODUCTION

The previous article [M 7 040] set out the basic definitions of iron ores and other raw materials required by the steel industry. This was particularly true of the geological and geochemical data needed to classify iron ores.

This article focuses on the geographical and economic aspects of the current rapid development of iron ore production, processing and trading worldwide. This has consequences for costs and prices, which have been undergoing increasingly rapid change in recent years, as already mentioned in the article [M 7 030] .

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