Adroit Market Research Global Iron Ore Market Size, Share , Industry Grow | Page 3

Adroit Market Research Global Iron Ore Market Size, Status and Forecast 2018-2025 • “Higher grade ore premiums are moderating due in part to falling steel prices,” stated Justin Smirk, Senior Economist at Westpac Bank. “With metallurgical coal prices rising, steel mill margins are been squeezed, increasing the attractiveness of cheaper grades of ore.” • “Recycled steel scrap was the basis for 19.5% of Chinese crude steel output in the first half of 2018, a significant five percentage point jump in the year,” Smirk says, citing data from the China Association of Metal Scrap Utilisation. • The global iron ore market is segmented on the basis of types of mines that includes underground mining, surface mining and other which has mixture of surface and underground mines. Another term for surface mining is Open-Pit and Open-Cast mining. This process is comparatively cheaper in extracting iron ore from the ground. Underground mining has two access routes that are made ubder earth surface, one for the ore and other for labor and material. • China is the largest iron-ore producing country, accounting fore more than 45% of iron ore market share of the world’s iron ore production. It is followed by Australia and Brazil. Overall, Asia is envisioned to dominate the iron ore mining market during the forecast period. Rapid development and industrialization are two major factors contributing to the accelerated production of iron ore in this particular region. • Browse the complete report on @ https://www.adroitmarketresearch.com/industry- reports/iron-ore-market [phone] [email protected] www.adroitmarketresearch.com