Iron ore Global production in 2020

Iron ore is a mineral containing traces of iron (Fe) that must be purified before it can be used. To purify this stone, the melting and reduction process must be performed in kilns in the usual way today. This rock is one of the most abundant metal rocks on Earth so that it can be said that about 5% of the total earth’s crust is composed of iron oxide. iron ore Minecraft, after processing and purification, is used to produce a variety of steel structures. 

What is iron ore concentrate?

The iron concentrate is one of the secondary products produced from iron ore and the purpose of its production is to produce quality iron ore in order to return unused iron ore to the production cycle. The iron concentrate is used to make sponge iron or other metal products. Using iron concentrate costs less energy and time in factories for the smelting process. Few factories in Iran produce iron ore concentrate because the concentrate production line is very expensive and requires a lot of water and energy and requires very special environmental, natural, and regional facilities. Some of the iron ore uses are:

•  Powdered iron: used in the manufacture of certain types of steels, magnets, automobile parts, and catalysts;
• Radioactive iron (iron 59): Used in pharmacy as a trace element in biochemical and metalworking research.
• Black iron oxide: used as a pigment in polishing compounds, used in metalworking, pharmaceuticals, making magnetic inks and ferrites (iron hydroxide) in the electronics industry;
• Red iron: For use in paintings, printing inks, cosmetics (such as eye shadow), art paints, plastics, fertilizers, and industrial finishing.

Iron ore is mostly found in nature in the form of magnetite with the chemical formula Fe3O4 and hematite with the formula Fe2O3. Iron ore is the most abundant material in the earth’s crust and is widely used in various industries to produce iron and steel so that about 98% of all iron ore extracted in the steel industry is used in various mines in The country is the supplier of iron ore.

Global demand for Iron ore in 2020

Analysts believe that global iron ore production will drop by 1.2 percent year on year to 2.23 billion tons, while global consumption of the raw material will fall by 2.8 percent to 2.03 billion tons this year. In the current situation, due to factors such as bad weather conditions, closure of mines and suspension of tenders following the outbreak of the Coronavirus, as well as the suspension and reduction of construction projects, iron ore production is expected to decrease this year.  In addition, the global car market is accompanied by declining demand, which could be another factor in reducing iron ore production.