Direct reduction of iron ore wholesale products

Iron ore is a metal element and covers 5% of the earth’s crust. By extracting raw iron ore from the earth and removing impurities, a dark silver-brown powder of iron is obtained. This element is easily oxidized and is not very strong on its own. The direct reduction of iron ore in Brazil’s mines has led to an increase in its global price due to the widespread spread of corona in the country.

Direct reduction of iron ore process

Iron ore has no direct alternative, but its main consumer, steel, has alternatives. Among other things, it has high competition with other metals such as aluminum, which is increasing in industries such as automotive. There are also alternatives to steel in the production of containers, plastics and glass. On the other hand, metals such as aluminum require a large percentage of electricity consumption to produce, so steel consumption is more common. A limited amount of scrap iron is found again, but steel recycling is more than any other metal. Although steel is also produced from scrap recycling, its total volume is currently insufficient.

 The main producers of iron ore are Australia, followed by China and Brazil. Other major manufacturers are Russia and the United States. In 2009, Australia’s total iron ore production was 393,900,000 tons, followed by China with 340,900,000 tons. However, the difference between Australia and China is that Australian production is exported while China consumes all of its production. Because it is the largest steel producer in the world and one of the main markets for iron ore consumption. The steel industry is the largest consumer of iron ore because it uses 98% of the world’s iron ore production. As a result, steel production indicates the need for iron ore. Also in the production sector, steel, iron ore and coal account for 75% of the costs. you can find use of dri in induction furnace in this article.

Buy direct reduction of iron ore Items in bulk

Usually, in the past, the price of iron ore was determined as a result of negotiations between large mining companies and steelmakers, and the price set in these negotiations was a kind of price index for the entire steel industry. But recently, this annual mechanism has given way to a short-term pricing system, and the world’s three largest mining companies no longer enter into annual contracts. Many Australian and Brazilian mining companies have turned to short-term contracts. In India, prices are mostly in cash, and some major suppliers have shown interest in using the Metal Bulletin or Platts price index.

The price of iron ore has been rising since January 2009. Declining supply, along with rising demand, have contributed to this upward trend. you will find direct reduced iron prices in internet.