Iron Ore export in the world

Just as a higher grade of iron ore is a factor in increasing prices, some harmful elements are also a factor in reducing prices. Phosphorus, sulfur, titanium and similar elements can be considered harmful elements for iron ore. So if you are planning to buy these products, you need to know enough about the types of iron ores and uses of iron ore. In this article, we are going to talk about Iron Ore export in general.

What is iron ore used for?

Today, iron ore has several applications depending on its type and each of its types is used in a specific field. In the following, we are going to name some types of iron ore and talk about them.

Iron ore has different minerals, the most important of which is Fe2O3 hematite with a maximum grade of 70% Iron ore and Fe3O4 magnetite with a maximum grade of 72%. Magnetite is more important and expensive because it is converted to FeO + Fe2O3 in the blast furnace. The higher the percentage of FeO in iron ore analysis, the higher its price will be. In transactions, FeOs above 16% are often demanded as magnetic ores. In blast furnaces, FeO separated from magnetite is considered as a potential for refinement of lower quality iron ore because it separates ferrous compounds from impurities. Due to the low grade of Chinese iron ores, the country’s steel mills often have to use higher grade ores, especially magnetic ones, for upgrading and relative cost reduction. Due to this, this type of iron ore will always have its audience in the Chinese market.

Most valuable iron ore reserves for international trade must be above 57%. In difficult market conditions, even a grade above 59% is demanded by buyers. In the past, the price of iron ore in the Chinese market was 63.5% for iron ore originating in India, but now, due to some restrictions on the export of Indian iron ore, it has become 62% for Australia or Brazil. Iron ore or any other mineral always has a low moisture content during bulk sea transportation.

increase. To calculate the price, they first subtract this amount of moisture, that is, by assuming 3% moisture, they reduce the weight of iron ore by 3%.

Iron Ore export wholesale in 2020

By 2020, there will be numerous wholesalers around the world operating in this field and offering their products to global markets. Therefore, it is not possible to mention only a few examples among them. But in general, China is the most important iron ore export market in the world. With its very high import volume (nearly 900 million tons per year), this country is the largest consumer market and the center of the iron ore trade, and the pricing of this commodity is done according to the conditions of this field. After China, the markets of South Korea, Japan and Europe are other important consumer markets for iron ore. In the future, the Persian Gulf region and the countries of Saudi Arabia, Qatar and the UAE will be added to these areas, so the need for planning in this area is strongly felt.