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Iron Ore: Market Outlook to 2020, 7th edition 2012

With the disruption of supplies from India, concerns over slowing economic growth in China, and the effects of large stockpiles forcing the price of iron ore through a series of supposed “price floors”, the iron ore industry has faced a turbulent time during 2011 and 2012. Prices for 63.5% Fe content Indian fines are likely to remain above US$120/t cfr until the end of 2014. On the long term from 2016 to 2020 prices may trend towards US$85 to US$95/t, after adjusting for inflation, as new capacity comes on-stream and forces higher-cost operations out of the market.

From 2006 to 2011, the promise of a high return on investment led to a decrease in the concentration of corporate control of seaborne trade in iron ore. During this period, the share of seaborne trade controlled by Rio Tinto, BHP Billiton and Vale (the “Big Three”) fell to 57.3% of the world total. This trend is expected to reverse to 2020, as the limited availability of capital will make securing project financing increasingly difficult for emerging producers.

It is estimated that 425Mtpy of nameplate capacity will be added from the middle of 2012 to the end of 2014 and that capacity additions will continue to exceed 100Mtpy through to 2020. These additions are likely to exceed demand growth and mostly represent low to medium-cost operations. Consequently, producers at the higher end of the cost curve - particularly those in China - will gradually find themselves unable to compete in the open market.

In 2012, a destocking phase among steel producers depressed demand for iron ore and the World Steel Association expects apparent consumption of finished steel products to grow by only 2.1% in 2012, down from 6.2% in 2011. During the period to 2020, however, rising demand from other emerging nations is unlikely to fully offset the slowing pace of growth in the intensity of steel use in China. Growth in apparent crude steel use will average 2.9%py from 2012 to 2020. Owing to the on-going shift of steel production to countries with a higher use of iron ore per unit of steel, demand for iron ore, at 3.1%py, will marginally outpace steel demand.

Uncertainty over the Eurozone affects the iron ore industry through its effect on demand, as well as on the reduced availability and higher cost of capital. Revisions of figures on Chinese growth targets and performance are likely to result in further short term peaks and troughs, although much of the adjustment to a more realistic outlook has already taken place. Other risk factors include growing resource nationalism, particularly in Africa, highly unpredictable energy costs, rising labour costs, and the fate of the Indian mining industry following the mining bans in Goa and Karnataka states.

Following the slump in prices from June to September 2012, prices are expected to remain above US$120/t cfr for 63.5% Fe content Indian fines until the end of 2014, while a restocking phase may push prices towards US$135/t during 2013, although large fluctuations are not unlikely. As new capacity comes on-stream, the industry's price floor will gradually drop and it appears likely that the US$100/t price level will be repeatedly tested and eventually broken towards 2015. In the baseline scenario for the iron ore industry, prices may trend towards US$85 to US$95/t during 2016 to 2020.

World production of crude steel: compound annual growth
rates of leading producing countries, 2006-2011

Get accurate answers from independent experts

  • Which regions are the most likely growth markets during the outlook period?
  • What is the status of existing and planned operations?
  • What are the trends in the intensity of use of iron ore and steel?
  • What will be the driving forces behind iron ore prices through to 2020?
  • What upside and downside risk factors does the iron ore industry face?

Table of Contents

1. Summary

  • 1.1. Production
  • 1.2. Consumption
  • 1.3. Prices

2. Occurrence and reserves

  • 2.1. Mineralogy
  • 2.2. Types of deposit
  • 2.3. Resources and reserves

3. Mining techniques

  • 3.1. Iron ore preparation and beneficiation
    • 3.1.1. Iron ore lump
    • 3.1.2. Iron ore fines
    • 3.1.3. Iron ore concentrates
    • 3.1.4. Sintering
    • 3.1.5. Iron ore pellets
    • 3.1.6. Iron ore nuggets

4. Specifications of iron ore used in steelmaking

  • 4.1. General
  • 4.2. Iron ore fines
  • 4.3. Iron ore lump
  • 4.4. Iron ore pellets
  • 4.5. Impurities in iron ore

5. World production of iron ore

  • 5.1. Production of iron ore in Europe and the CIS
  • 5.2. Production of iron ore in North America
  • 5.3. Production of iron ore in South America
  • 5.4. Production of iron ore in Africa
  • 5.5. Production of iron ore in the Middle East
  • 5.6. Production of iron ore in Asia
  • 5.7. Production of iron ore in Oceania
  • 5.8. Structure of the iron ore industry
  • 5.9. Corporate control of iron ore production
  • 5.10. Production of iron ore by type
  • 5.11. World stocks of iron ore

6. Europe and the CIS

  • 6.1. Armenia
  • 6.2. Austria
    • 6.2.1. Production and trade
    • 6.2.2. Iron-based steel production
  • 6.3. Belgium and Luxembourg
    • 6.3.1. Production and trade
    • 6.3.2. Iron-based steel production
  • 6.4. Bosnia and Herzegovina
    • 6.4.1. Production and trade
    • 6.4.2. Iron-based steel production
  • 6.5. Bulgaria
    • 6.5.1. Production and trade
    • 6.5.2. Iron-based steel production
  • 6.6. Czech Republic
    • 6.6.1. Production and trade
  • 6.7. Finland
    • 6.7.1. Production and trade
    • 6.7.2. Iron-based steel production
  • 6.8. France
    • 6.8.1. Production and trade
    • 6.8.2. Iron-based steel production
  • 6.9. Germany
    • 6.9.1. Production and trade
    • 6.9.2. Iron-based steel production
  • 6.10. Hungary
    • 6.10.1. Production and trade
    • 6.10.2. Iron-based steel production
  • 6.11. Italy
    • 6.11.1. Production and trade
    • 6.11.2. Iron-based steel production
  • 6.12. Kazakhstan
    • 6.12.1. Production and trade
      • 6.12.1.1. ArcelorMittal
      • 6.12.1.2. Eurasian Natural Resources Corporation (ENRC),
      • 6.12.1.3. KazaX Minerals
    • 6.12.2. Iron-based steel production
  • 6.13. Macedonia
  • 6.14. The Netherlands
    • 6.14.1. Production and trade
    • 6.14.2. Iron-based steel production
  • 6.15. Norway
    • 6.15.1. Production and trade
  • 6.16. Poland
    • 6.16.1. Production and trade
    • 6.16.2. Iron-based steel production
  • 6.17. Portugal
    • 6.17.1. Production and trade
  • 6.18. Romania
    • 6.18.1. Production and trade
    • 6.18.2. Iron-based steel production
  • 6.19. Russia
    • 6.19.1. Production and trade
      • 6.19.1.1. EuroChem Mineral and Chemical
      • 6.19.1.2. Evraz Group
      • 6.19.1.3. First Iron Group
      • 6.19.1.4. IRC
      • 6.19.1.5. KMA Ruda Combine
      • 6.19.1.6. Magnitogorsk Iron & Steel Works
      • 6.19.1.7. Mechel Group
      • 6.19.1.8. Metalloinvest
      • 6.19.1.9. Novolipetsk Metallurgical Combine
      • 6.19.1.10. Severstal
      • 6.19.1.11. Timir
      • 6.19.1.12. Urals Mining and Metallurgical (UMMC)
      • 6.19.1.13. Yakovlevsky Rudnik
    • 6.19.2. Other projects
      • 6.19.2.1. Atlas Group
      • 6.19.2.2. Basic Element
      • 6.19.2.3. Leks Elekta
      • 6.19.2.4. Metropol IFC
      • 6.19.2.5. Shandon Luneng Group
    • 6.19.3. Iron-based steel production
  • 6.20. Serbia and Montenegro plus Kosovo
  • 6.21. Slovakia
  • 6.22. Spain
    • 6.22.1. Production and trade
    • 6.22.2. Iron-based steel production
  • 6.23. Sweden
    • 6.23.1. Production and trade
      • 6.23.1.1. Beowulf Mining
      • 6.23.1.2. Dannemora Mineral (DMAB)
      • 6.23.1.3. Grngesberg Iron
      • 6.23.1.4. Kiruna Iron
      • 6.23.1.5. Luossavaara-Kiirunavaara (LKAB)
      • 6.23.1.6. Nordic Iron
      • 6.23.1.7. Northland Resources
    • 6.23.2. Iron-based steel production
  • 6.24. Switzerland
  • 6.25. Turkey
    • 6.25.1. Production and trade
    • 6.25.2. Iron-based steel production
  • 6.26. Ukraine
    • 6.26.1. Production and trade
      • 6.26.1.1. ArcelorMittal Kryviy Rih
      • 6.26.1.2. Evraz Steel
      • 6.26.1.3. Ferrexpo
      • 6.26.1.4. Metinvest
      • 6.26.1.5. Minerfin - Zaporozhsky
      • 6.26.1.6. OJSC Krivoy Rog Iron Ore
    • 6.26.2. Development projects
      • 6.26.2.1. Black Iron
      • 6.26.2.2. Kryviy Rih Mining and Beneficiation Plant (KGOKOR)
      • 6.26.2.3. Velta
    • 6.26.3. Iron-based steel production
  • 6.27. UK
    • 6.27.1. Production and trade
    • 6.27.2. Iron-based steel production
  • 6.28. Others

7. North America

  • 7.1. Canada
    • 7.1.1. Production and trade
      • 7.1.1.1. ArcelorMittal
      • 7.1.1.2. Cliffs Natural Resources
      • 7.1.1.3. Craigmont Mines
      • 7.1.1.4. Labrador Iron Mines
      • 7.1.1.5. Rio Tinto
      • 7.1.1.6. Tata Steel Minerals Canada
    • 7.1.2. Development projects
      • 7.1.2.1. Advanced Explorations
      • 7.1.2.2. Alderon Iron Ore
      • 7.1.2.3. Argex Mining
      • 7.1.2.4. Bending Lake Iron Group
      • 7.1.2.5. Champion Minerals
      • 7.1.2.6. Century Iron Mines
      • 7.1.2.7. Oceanic Iron Ore
      • 7.1.2.8. Wuhan Iron and Steel
    • 7.1.3. Iron-based steel production
  • 7.2. Greenland (Denmark)
  • 7.3. Mexico
    • 7.3.1. Production and trade
      • 7.3.1.1. Altas Hornos de México
      • 7.3.1.2. ArcelorMittal
      • 7.3.1.3. Aussie Mex
      • 7.3.1.4. Cotton & Western Mining
      • 7.3.1.5. Ternium
    • 7.3.2. Iron-based steel production
  • 7.4. USA
    • 7.4.1. Production and trade
      • 7.4.1.1. ArcelorMittal
      • 7.4.1.2. Cliffs Natural Resources
      • 7.4.1.3. CML Metals
      • 7.4.1.4. Essar Steel Minnesota (ESML)
      • 7.4.1.5. Magnetation
      • 7.4.1.6. Nevada Iron
      • 7.4.1.7. Steel Dynamics
      • 7.4.1.8. Strategic Minerals
      • 7.4.1.9. US Steel
    • 7.4.2. Iron-based steel production

8. South America

  • 8.1. Argentina
    • 8.1.1. Production and trade
    • 8.1.2. Iron-based steel production
  • 8.2. Bolivia
  • 8.3. Brazil
    • 8.3.1. Production and trade
      • 8.3.1.1. Amplus
      • 8.3.1.2. Anglo American
      • 8.3.1.3. ArcelorMittal
      • 8.3.1.4. Aura Minerals
      • 8.3.1.5. Bahia Minerao
      • 8.3.1.6. Beadell Resources
      • 8.3.1.7. Centaurus Metals
      • 8.3.1.8. Crusader Resources
      • 8.3.1.9. Comphania Siderrgica Nacional (CSN)
      • 8.3.1.10. Eldorado Gold
      • 8.3.1.11. ENRC
      • 8.3.1.12. Gerdau
      • 8.3.1.13. Itaminas Comercio de Minrios
      • 8.3.1.14. MHAG
      • 8.3.1.15. Minerao Marsil Ltda
      • 8.3.1.16. MMX Minerao e Metlicos
      • 8.3.1.17. South American Ferro Minerals (SAFM)
      • 8.3.1.18. Usiminas
      • 8.3.1.19. Vale
      • 8.3.1.20. V & M Minerao
      • 8.3.1.21. Zamin Ferrous
      • 8.3.1.22. Others
    • 8.3.2. Iron-based steel production
  • 8.4. Chile
    • 8.4.1. Production and trade
      • 8.4.1.1. Admiralty Resources
      • 8.4.1.2. All Grade Mining
      • 8.4.1.3. Compania Minera del Pacifico (CMP)
      • 8.4.1.4. Minera Santa Fe
      • 8.4.1.5. Minera Varry
      • 8.4.1.6. MMX Minera de Chile
      • 8.4.1.7. South American Iron & Steel
      • 8.4.1.8. Vallenar Iron (VIC)
    • 8.4.2. Iron-based steel production
  • 8.5. Colombia
    • 8.5.1. Production and trade
    • 8.5.2. Iron-based steel production
  • 8.6. Paraguay
  • 8.7. Peru
    • 8.7.1. Production and trade
      • 8.7.1.1. Latin Resources
      • 8.7.1.2. Nanjinzhao Group
      • 8.7.1.3. Shougang Hierro Peru
      • 8.7.1.4. Strike Resources and Cuervo Resources
    • 8.7.2. Iron-based steel production
  • 8.8. Trinidad and Tobago
  • 8.9. Uruguay
  • 8.10. Venezuela
    • 8.10.1. Production and trade
    • 8.10.2. Iron-based steel production

9. Africa

  • 9.1. Algeria
    • 9.1.1. Production and trade
    • 9.1.2. Iron-based steel production
  • 9.2. Cameroon
  • 9.3. Congo-Brazzaville
  • 9.4. Egypt
    • 9.4.1. Production and trade
    • 9.4.2. Iron-based steel production
  • 9.5. Gabon
  • 9.6. Guinea
    • 9.6.1. Bellzone Mining
    • 9.6.2. EuroNimba
    • 9.6.3. Rio Tinto Iron Ore
    • 9.6.4. Vale
    • 9.6.5. Others
  • 9.7. Ivory Coast
  • 9.8. Liberia
    • 9.8.1. ArcelorMittal
    • 9.8.2. BHP Billiton
    • 9.8.3. China Union Investment Company
    • 9.8.4. Elenilto Minerals & Mining and Western Cluster
    • 9.8.5. Severstal Resources
    • 9.8.6. Vale
  • 9.9. Libya
  • 9.10. Madagascar
  • 9.11. Mali
  • 9.12. Mauritania
    • 9.12.1. Bumi Resources
    • 9.12.2. KIOCL and Curve Capital Ventures
    • 9.12.3. Societé National Industrielle et Minire (SNIM)
    • 9.12.4. Xstrata
  • 9.13. Mozambique
  • 9.14. Namibia
  • 9.15. Nigeria
    • 9.15.1. Production and trade
      • 9.15.1.1. Energio
      • 9.15.1.2. Nigerian Iron Ore Mining (NIOMCO)
    • 9.15.2. Iron-based steel production
  • 9.16. Senegal
  • 9.17. Sierra Leone
  • 9.18. South Africa
    • 9.18.1. Production and trade
      • 9.18.1.1. Aquila Resources
      • 9.18.1.2. Associated Manganese Mines of South Africa (Assmang)
      • 9.18.1.3. Evraz Group
      • 9.18.1.4. Ferrox Holdings
      • 9.18.1.5. Kumba Iron Ore
      • 9.18.1.6. Rio Tinto
      • 9.18.1.7. Other exploration projects
    • 9.18.2. Iron-based steel production
  • 9.19. Tanzania
  • 9.20. Tunisia
  • 9.21. Zimbabwe
  • 9.22. Others

10. Middle East

  • 10.1. Bahrain
  • 10.2. Iran
    • 10.2.1. Production and trade
    • 10.2.2. Iron-based steel production
  • 10.3. Iraq
  • 10.4. Oman
  • 10.5. Qatar
  • 10.6. Saudi Arabia
  • 10.7. Syria
  • 10.8. UAE

11. Asia

  • 11.1. Afghanistan
  • 11.2. China
    • 11.2.1. Production and trade
    • 11.2.2. Iron ore operations
      • 11.2.2.1. Anshan Iron & Steel
      • 11.2.2.2. Baosteel
      • 11.2.2.3. Baotou Iron & Steel Group (Baobang Group)
      • 11.2.2.4. Benxi Iron and Steel (Bengang)
      • 11.2.2.5. China Minmetals
      • 11.2.2.6. Maanshan Iron & Steel (Masteel)
      • 11.2.2.7. Panzhihua Iron & Steel
      • 11.2.2.8. Shougang
      • 11.2.2.9. Taiyuan Iron & Steel (TISCO)
      • 11.2.2.10. Wuhan Iron & Steel (WISCO)
    • 11.2.3. Main projects
    • 11.2.4. Chinese overseas investments
    • 11.2.5. Iron-based steel production
  • 11.3. India
    • 11.3.1. Reserves
    • 11.3.2. Production and trade
    • 11.3.3. Mining ban
    • 11.3.4. Iron ore operations
      • 11.3.4.1. Aryan Mining and Trading
      • 11.3.4.2. Bellary Iron Ore (BIOP Group)
      • 11.3.4.3. Bharat Mines & Minerals (BMM) Ispat
      • 11.3.4.4. Chowgule
      • 11.3.4.5. Damodar Mangalji
      • 11.3.4.6. Essel Mining & Industries
      • 11.3.4.7. Fomento Resources
      • 11.3.4.8. Jindal Steel & Power (JSPL)
      • 11.3.4.9. Kamaljeet Sing Ahluwalia
      • 11.3.4.10. Kudremukh Iron Ore Company (KIOCL)
      • 11.3.4.11. Mideast Integrated Steel (MISL)
      • 11.3.4.12. Mineral Enterprises (MEL)
      • 11.3.4.13. Mysore Minerals
      • 11.3.4.14. Mineral Sales (MSPL)
      • 11.3.4.15. National Mineral Development (NMDC)
      • 11.3.4.16. NSL Consolidated
      • 11.3.4.17. Obulapuram Mining Co. (OMCPL)
      • 11.3.4.18. Orissa Mining (OMC) and Rio Tinto
      • 11.3.4.19. Panduronga Timblo Industries (PTI)
      • 11.3.4.20. Patnaik Minerals (PMPL)
      • 11.3.4.21. Ramesh Prasad Sao
      • 11.3.4.22. Rungta Mines
      • 11.3.4.23. Rungta Sons (RSPL)
      • 11.3.4.24. Sesa Sterlite
      • 11.3.4.25. Smt. Indrani Patnaik
      • 11.3.4.26. Steel Authority of India (SAIL)
      • 11.3.4.27. Stemcor India
      • 11.3.4.28. Tata Steel
      • 11.3.4.29. Timblo Mining Group
      • 11.3.4.30. Usha Martin
      • 11.3.4.31. Vassantram Metha
      • 11.3.4.32. V. M. Salgaocar and Brother
      • 11.3.4.33. V. S. Dempo & Co
    • 11.3.5. Pelletisation
    • 11.3.6. Export policy
    • 11.3.7. Iron-based steel production
  • 11.4. Indonesia
    • 11.4.1. Production and trade
  • 11.4.2. Iron-based steel production
  • 11.5. Japan
    • 11.5.1. Production and trade
    • 11.5.2. Iron-based steel production
  • 11.6. North Korea
    • 11.6.1. Production and trade
    • 11.6.2. Iron-based steel production
  • 11.7. South Korea
    • 11.7.1. Production and trade
    • 11.7.2. Iron-based steel production
  • 11.8. Laos
  • 11.9. Malaysia
    • 11.9.1. Production and trade
    • 11.9.2. Iron-based steel production
  • 11.10. Mongolia
    • 11.10.1. Production and trade
      • 11.10.1.1. Altain Khuder
      • 11.10.1.2. Boldtumur Eruu Gol
      • 11.10.1.3. Darkhan Metallurgical Plant
      • 11.10.1.4. Haranga Resources
      • 11.10.1.5. Mongolrostsvetmet
      • 11.10.1.6. Monzol
      • 11.10.1.7. Khust Uul mine
    • 11.10.2. Iron-based steel production
  • 11.11. Myanmar
  • 11.12. Pakistan
  • 11.13. Papua New Guinea
  • 11.14. Philippines
  • 11.15. Taiwan
    • 11.15.1. Production and trade
    • 11.15.2. Iron-based steel production
  • 11.16. Thailand
    • 11.16.1. Production and trade
    • 11.16.2. Iron-based steel production
  • 11.17. Vietnam
    • 11.17.1. Production and trade
      • 11.17.1.1. Kunming Iron & Steel
      • 11.17.1.2. Na Lung Iron Mining Enterprise
      • 11.17.1.3. Thach Khe Iron Ore (TIC)
      • 11.17.1.4. Thai Nguyen Iron & Steel (TISCO)
    • 11.17.2. Iron-based steel production

12. Oceania

  • 12.1. Australia
    • 12.1.1. Production and trade
      • 12.1.1.1. Arrium (OneSteel)
      • 12.1.1.2. Atlas Iron
      • 12.1.1.3. BHP Billiton
      • 12.1.1.4. CITIC Pacific
      • 12.1.1.5. Cliffs Natural Resources
      • 12.1.1.6. Fortescue Metals Group
      • 12.1.1.7. Gindalbie Metals and Ansteel
      • 12.1.1.8. Grange Resources
      • 12.1.1.9. Hancock Prospecting
      • 12.1.1.10. IMX Resources
      • 12.1.1.11. Mineral Resources
      • 12.1.1.12. Mitsubishi Development
      • 12.1.1.13. Moly Mines
      • 12.1.1.14. Mount Gibson Iron
      • 12.1.1.15. Noble Group
      • 12.1.1.16. Pluton Resources
      • 12.1.1.17. Rio Tinto
      • 12.1.1.18. Sibelco Australia
      • 12.1.1.19. Sinosteel Midwest (SMC)
      • 12.1.1.20. Xstrata
    • 12.1.2. Advanced development projects
    • 12.1.3. Infrastructure
    • 12.1.4. Iron-based steel production
  • 12.2. Fiji
  • 12.3. New Zealand
    • 12.3.1. Production and trade
    • 12.3.2. Iron-based steel production

13. Supply outlook to 2020

  • 13.1. Local expansions by existing producers
  • 13.2. Emerging operations and producers
  • 13.3. Trends in the structure of the iron ore industry

14. Apparent consumption of iron ore

15. End uses of iron ore

  • 15.1. Iron and steelmaking
    • 15.1.1. Production processes
      • 15.1.1.1. Blast furnace iron making
      • 15.1.1.2. Electric arc furnace steelmaking
      • 15.1.1.3. Direct-reduced iron/hot-briquetted iron (DRI/HBI)
      • 15.1.1.4. Direct smelting
      • 15.1.1.5. Iron nuggets
    • 15.1.2. Primary iron production
      • 15.1.2.1. Pig iron production
      • 15.1.2.2. Direct-reduced iron production
    • 15.1.3. Foundry iron production
    • 15.1.4. Steel production
    • 15.1.5. Steel demand outlook
      • 15.1.5.1. Trends between 2006 and 2011
      • 15.1.5.2. Steel demand outlook to 2020
  • 15.2. Non-metallurgical applications
    • 15.2.1. Concrete
    • 15.2.2. Drilling muds
    • 15.2.3. Heavy media in coal washing
    • 15.2.4. Iron oxide pigments

16. Demand outlook to 2020

17. World trade in iron ore

  • 17.1. Seaborne trade
  • 17.2. Sea vessels used in iron ore transport
  • 17.3. Land-based trade
  • 17.4. Exports of iron ore
    • 17.4.1. Exports of iron ore by product type
    • 17.4.2. Exports by origin and destination
  • 17.5. Imports of iron ore

18. Prices of iron ore and upstream products

  • 18.1. Mechanisms and dynamics
    • 18.1.1. Annual benchmark system
    • 18.1.2. The spot market for iron ore
    • 18.1.3. Iron ore contracts
  • 18.2. Freight charges
  • 18.3. Prices of iron ore in annual benchmark system
    • 18.3.1. Fines
    • 18.3.2. Lump
    • 18.3.3. Pellet
  • 18.4. Prices of iron ore in the USA
  • 18.5. Chinese spot market
  • 18.6. Ferrous scrap and DRI prices
  • 18.7. Prices of pig iron
  • 18.8. Prices of steel

19. Price outlook to 2020

  • 19.1. Key trends
    • 19.1.1. Recovery in steel production and iron ore demand
    • 19.1.2. Shift of production of iron ore from China
    • 19.1.3. Cost increases
    • 19.1.4. Roskill forecast
    • 19.1.5. Price volatility
    • 19.1.6. Price premiums
    • 19.1.7. Trading mechanisms
  • 19.2. Risk factors

List of Tables:

  • 1. World: Corporate control of iron ore production and seaborne trade, 2011
  • 2. World: Production and trade in iron ore, 2005 to 2011
  • 3. World: Outlook for consumption of iron ore, 2011 to 2020
  • 4. Composition of commercially important iron ore minerals
  • 5. Mine production and reserves, 2010 and 2011
  • 6. Technical specifications of fines sold by NMDC
  • 7. Technical specifications of lump ore sold by BHP Billiton
  • 8. Technical specifications of pellet feedstock sold by Samarco
  • 9. World: Pig iron and DRI production by region, 2005-2011
  • 10. World: Production of iron ore by country, 2005-2011
  • 11. World: Production and exports of iron by principal countries, 2011
  • 12. Europe: Production of iron ore by country, 2005-2011
  • 13. North America: Production of iron ore by country, 2005-2011
  • 14. South America: Production of iron ore by country, 2005-2011
  • 15. Africa: Production of iron ore by country, 2005-2011
  • 16. Middle East: Production of iron ore, 2005-2011
  • 17. Asia: Production of iron ore by country, 2005-2011
  • 18. Oceania: Production of iron ore by country, 2005-2011
  • 19. World: Corporate control in iron ore mining, 2011
  • 20. World: Corporate control in seaborne trade in iron ore, 2010-2011
  • 21. World: Details of principal iron ore mines, 2011
  • 22. World: Pellet capacity, production and exports, 2006 and 2011
  • 23. World: Details of principal pelletising plants, mid-2012
  • 24. Selected countries: Iron ore stocks, 2005 to 2012
  • 25. Austria: Key production and trade data, 2005 to 2011
  • 26. Austria: Discrepancies in trade statistics, 2005 to 2011
  • 27. Austria: Summary of iron-based steel producers
  • 28. Belgium & Luxembourg: Key production and trade data, 2005 to 2011
  • 29. Belgium: Details of iron-based steel producers
  • 30. Bosnia and Herzegovina: Key production and trade data, 2005 to 2011
  • 31. Bulgaria: Key production and trade data, 2005 to 2011
  • 32. Czech Republic: Key production and trade data, 2005 to 2011
  • 33. Czech Republic: Details of iron-based steel producers
  • 34. Finland: Key production and trade data, 2005 to 2011
  • 35. France: Key production and trade data, 2005 to 2011
  • 36. France: Details of iron-based steel producers
  • 37. Germany: Key production and trade data, 2005 to 2011
  • 38. Germany: Details of iron-based steel producers
  • 39. Hungary: Key production and trade data, 2005 to 2011
  • 40. Italy: Key production and trade data, 2005 to 2011
  • 41. Details of iron-based steel producers
  • 42. Kazakhstan: Key production and trade data, 2005 to 2011
  • 43. Netherlands: Key production and trade data, 2005 to 2011
  • 44. Norway: Key production and trade data, 2005 to 2011
  • 45. Poland: Key production and trade data, 2005 to 2011
  • 46. Poland: Details of iron-based steel producers
  • 47. Portugal: Key production and trade data, 2005 to 2011
  • 48. Romania: Key production and trade data, 2005 to 2011
  • 49. Russia: Key production and trade data, 2005 to 2011
  • 50. Russia: Production of iron ore by company, 2010-2011
  • 51. Russia: Production of pellet by company, 2010-2011
  • 52. Production by Metalloinvest group, 2010-2011
  • 53. Russia: Details of iron-based steel producers
  • 54. Serbia and Montenegro: Key production and trade data, 2005 to 2011
  • 55. Slovakia: Key production and trade data, 2005 to 2011
  • 56. Spain: Key production and trade data, 2005 to 2011
  • 57. Sweden: Key production and trade data, 2005 to 2011
  • 58. Turkey: Key production and trade data, 2005 to 2011
  • 59. Turkey: Details of iron-based steel producers
  • 60. Ukraine: Key production and trade data, 2005 to 2011
  • 61. Ukraine: Production of iron ore commodities by company, 2010-2011
  • 62. Ukraine: Details of iron-based steel producers
  • 63. UK: Key production and trade data, 2005 to 2011
  • 64. UK: Details of iron-based steel producers
  • 65. Canada: Key production and trade data, 2005 to 2011
  • 66. Canada: Production of iron ore by province, 2005-2011
  • 67. Canada: Details of iron-based steel producers
  • 68. Mexico: Key production and trade data, 2005 to 2011
  • 69. Mexico: Details of iron-based steel producers
  • 70. USA: Key production and trade data, 2005 to 2011
  • 71. USA: Details of iron-based steel producers
  • 72. Argentina: Key production and trade data, 2005 to 2011
  • 73. Argentina: Details of iron-based steel producers
  • 74. Brazil: Reserves of iron ore by state
  • 75. Brazil: Key production and trade data, 2005 to 2011
  • 76. Vale: Details of mining operations
  • 77. Vale: Details of pellet production (2010-2011)
  • 78. Brazil: Integrated iron and steel producers
  • 79. Chile: Key production and trade data, 2005 to 2011
  • 80. CMP resources and reserves
  • 81. Colombia: Key production and trade data, 2005 to 2011
  • 82. Peru: Key production and trade data, 2005 to 2011
  • 83. Trinidad and Tobago: Key production and trade data, 2005 to 2011
  • 84. Trinidad and Tobago: DRI Plants
  • 85. Venezuela: Key production and trade data, 2005 to 2011
  • 86. Venezuela: Nationalisation of DRI/HBI plants announced in May 2009
  • 87. Venezuela: Details of DRI and HBI plants
  • 88. Algeria: Key production and trade data, 2005 to 2011
  • 89. Egypt: Key production and trade data, 2005 to 2011
  • 90. Libya: Key production and trade data, 2005 to 2011
  • 91. Mauritania: Key production and trade data, 2005 to 2011
  • 92. Nigeria: Key production and trade data, 2005 to 2011
  • 93. South Africa: Key production and trade data, 2005 to 2011
  • 94. Kumba iron ore projects
  • 95. South Africa: Details of iron-based steel producers
  • 96. Tunisia: Key production and trade data, 2005 to 2011
  • 97. Bahrain: Key production and trade data, 2005 to 2011
  • 98. Iran: Key production and trade data, 2005 to 2011
  • 99. Iran: Details of iron-based steel producers
  • 100. Qatar: Key production and trade data, 2005 to 2011
  • 101. Saudi Arabia: Key production and trade data, 2005 to 2011
  • 102. Saudi Arabia: Details of iron-based steel producers
  • 103. UAE: Key production and trade data, 2005 to 2011
  • 104. China: Key production and trade data, 2005 to 2011
  • 105. China: Total imports of iron ore by district, 2009-2011
  • 106. China: Total imports of agglomerated ore by district, 2009-2011
  • 107. China: Top 10 iron ore mining companies, 2010-2011
  • 108. China: Details of selected greenfield and brownfield projects
  • 109. China: Selected mines and projects with Chinese shareholders
  • 110. China: Steel output of leading Chinese producers, 2010-11
  • 111. India: Proven and probable reserves by state
  • 112. India: Key production and trade data, 2005 to 2011
  • 113. India: Production of concentrates, fines and lumps, 2005-2011
  • 114. India: Number of reporting mines and production by state
  • 115. India: Principal producers of iron ore, 2009-2010
  • 116. NMDC: Overview of operations
  • 117. OMC: Production by mine, 2007-2012
  • 118. SAIL: Details of captive iron ore mines, 2010-2011
  • 119. India: Capacity and production of pellet plants
  • 120. India: Details of iron-based steel producers
  • 121. India: Capacity of DRI plants
  • 122. India: Major brownfield and greenfield projects for iron-based steel production
  • 123. Indonesia: Key production and trade data, 2005 to 2011
  • 124. Japan: Key production and trade data, 2005 to 2011
  • 125. Japan: Details of iron-based steel producers
  • 126. North Korea: Key production and trade data, 2005 to 2011
  • 127. South Korea: Key production and trade data, 2005 to 2011
  • 128. South Korea: Details of iron-based steel producers
  • 129. Malaysia: Key production and trade data, 2005 to 2011
  • 130. Japan: Details of iron-based steel producers
  • 131. Mongolia: Key production and trade data, 2005 to 2011
  • 132. Pakistan: Key production and trade data, 2005 to 2011
  • 133. Philippines: Data on imports and exports of iron ore, 2005 to 2011
  • 134. Philippines: Key production and trade data, 2005 to 2011
  • 135. Taiwan: Key production and trade data, 2005 to 2011
  • 136. Thailand: Key production and trade data, 2005 to 2011
  • 137. Vietnam: Key production and trade data, 2005 to 2011
  • 138. Australia: Key production and trade data, 2005 to 2011
  • 139. BHP Billiton ore reserves as at 30 June 2011
  • 140. Rio Tinto: Details of Australian Mining Operations, 2011
  • 141. Rio Tinto Iron Ore expansion projects
  • 142. Australia: Details of iron-based steel producers
  • 143. New Zealand: Key production and trade data, 2005 to 2011
  • 144. World: Quarterly production of leading producers of iron ore, 2011-2012
  • 145. Details of advanced new iron ore projects as of October 2012
  • 146. Scenarios for capacity expansion, mid-2012 to 2014
  • 147. Apparent consumption of iron ore by leading countries, 2005-2011
  • 148. Selected countries: Consumption and trade of ferrous scrap, 2011
  • 149. Selected countries: Scrap consumption and EAF steel production, 2011
  • 150. DRI processes
  • 151. World: Production of pig iron by region/country, 2005-2011
  • 152. World: Production of direct-reduced iron by country, 2005-2011
  • 153. World: Details of direct reduction plants (end-2011)
  • 154. World: Production of iron castings, 1970 to 2010
  • 155. World: Production of iron castings by country, 2010
  • 156. World: Production of crude steel by leading countries, 2005-2011
  • 157. Top steelmakers ranked by output, 2011
  • 158. World: Apparent consumption of finished steel by region, 2006-2011
  • 159. Apparent consumption of finished steel by leading countries, 2006-2011
  • 160. Selected countries: Per capita consumption of finished steel products, 2006-2011
  • 161. World: Outlook for crude steel demand, 2011-2020
  • 162. World: Outlook for consumption of iron ore, 2011-2020
  • 163. Exports of iron ore for major exporters, 2005 to 2011
  • 164. World: Exports of iron ore non-agglomerated concentrates (other than roasted iron pyrites), 2005 to 2011
  • 165. World: Exports of iron ore agglomerated concentrates (other than roasted iron pyrites), 2005 to 2011
  • 166. World: Exports of iron ore pellets by country, 2005 to 2011
  • 167. Exports of iron ore concentrates, non-agglomerated, by origin and destination, 2011
  • 168. Exports of iron ore concentrates, agglomerated, by origin and destination, 2011
  • 169. World: Imports of iron ore, 2005-2011
  • 170. Selected countries: Imports of iron ore by origin, 2005-2011
  • 171. Average spot iron freight rates, 2002 to 2012
  • 172. Prices of fines to Europe during benchmark system, 2003-2009
  • 173. Prices of fines to Japan during benchmark system, 2003-2009
  • 174. Prices of lump to Europe during benchmark system, 2003-2009
  • 175. Prices of lump to Japan during benchmark system, 2003-2009
  • 176. Prices of pellet to Europe during benchmark system, 2003-2009
  • 177. Prices of pellet to Japan during benchmark system, 2003-2009
  • 178. USA: Average annual price of iron ore, 1950-2011
  • 179. China: Import prices of Indian iron ore fines at 63.5% Fe CFR main port, 2005-2012
  • 180. China: Import prices of pellets at 65-66% Fe main port CFR, 2005-2012
  • 181. Forecast year-end prices of imported Indian iron ore fines at 63.5% Fe CFR China main port, 2011 to 2020
  • 182. Risks to price outlook, 2012 to 2020

List of Figures:

  • 1. World: Trends in crude steel and iron ore production, 2002-2011
  • 2. World: Production of crude steel by leading producers, 2001-2011
  • 3. World: Production of iron ore by leading producers, 2001-2011
  • 4. Selected countries: Per capita consumption of finished steel products, 2011
  • 5. China: Import spot prices, 2005-2012
  • 6. Actual and forecast year-end prices of imported Indian iron ore fines at 63.5% Fe CFR China main port, 2005-2020
  • 7. World: Production of iron ore and crude steel, 1946 to 2011
  • 8. World production of crude steel: Compound annual growth rates of leading producing countries, 2006-2011
  • 9. World production of steel: Percentage share by leading producing countries, 2000-2011
  • 10. World: Pig iron and DRI production by region, 2002-2011
  • 11. World: Production of iron ore by region, 2011
  • 12. World: Exports of iron ore, 2011
  • 13. Canada: Exports of iron ore , 2002-2011
  • 14. Brazil: Exports of iron ore, 2002-2011
  • 15. China: Fe grade in ROM iron ore from major mines, 2003-2011
  • 16. China: Production of iron ore, 2003-2011
  • 17. China: Imports of iron ore, 2002-2011
  • 18. India: Exports of iron ore, 2001-2010
  • 19. Japan: Imports of iron ore, 2002-2011
  • 20. South Korea: Origin of iron ore imports, 2002-2011
  • 21. Taiwan: Imports of iron ore, 2002-2011
  • 22. Australia: Exports of iron ore, 2002-2011
  • 23. World production of iron and steel, 2002-2011
  • 24. Trends in iron ore intensity, 2002-2011
  • 25. Ratios of iron ore consumption to iron production, 2002-2011
  • 26. Share of apparent consumption of iron ore, 2005 and 2011
  • 27. World production and apparent consumption of iron ore, 2002-2011
  • 28. Production of crude steel in blast furnaces, 2002-2011
  • 29. Production of crude steel in electric arc furnaces, 2002-2011
  • 30. Production of crude steel in open-hearth furnaces, 2002-2011
  • 31. Steel production routes in leading countries, 2011
  • 32. World: Share of pig iron production, 2005 and 2011
  • 33. World: Production of direct-reduced iron, 1970 to 2011
  • 34. World: Production and merchant shipments of DRI, 1970 to 2011
  • 35. World: Production of iron casting, 2010
  • 36. World: Production of crude steel by region, 2002-2011
  • 37. Production of steel by company rank
  • 38. Consumption of finished steel by leading countries
  • 39. USA: Intensity of steel use, 1900-2011
  • 40. Selected countries: Trends in intensity of use of finished steel products, 2006-2011
  • 41. Selected countries: Trends in per capita consumption of steel, 1900-2011
  • 42. World: Outlook for growth in crude steel demand, 2012-2020
  • 43. World: Outlook for crude steel demand by region, 2011-2020
  • 44. Selected countries: Outlook for growth in iron ore demand, 2012-2020
  • 45. Selected countries: Outlook for iron ore demand, 2011-2020
  • 46. Exports of iron ore by selected countries, 2002 to 2011
  • 47. Exports of iron ore by type and major exporters, 2011
  • 48. Exports of iron ore pellets by country, 2005 to 2011
  • 49. Imports of iron ore by selected countries, 2005 to 2011
  • 50. Spot iron freight rates, 2002-2012
  • 51. Prices of fines to Europe and Japan during benchmark system, 2003-2009
  • 52. Prices of lump to Europe and Japan during benchmark system, 2003-2009
  • 53. Hamersley Iron: Lump ore price premium, 1987-2009
  • 54. Prices of pellet to Europe and Japan during benchmark system, 2003-2009
  • 55. LKAB: Pellet price premium, 1987-2009
  • 56. USA: Average annual price of iron ore, 1950-2011
  • 57. Comparison of prices of Canadian pellet sold to Europe, Brazilian pellet sold to Japan and average USA prices, 1987-2011
  • 58. China: Import spot prices, 2005-2012
  • 59. USA: Domestic No. 1 Heavy Melting Scrap, 1997 to 2012
  • 60. Venezuela: Export prices of HBI, FOB main port
  • 61. CIS: Export pig iron, FOB main port Black Sea
  • 62. CIS: Export prices of heavy plate and slab, FOB Black Sea
  • 63. Actual and forecast year-end prices of imported Indian iron ore fines at 63.5% Fe CFR China main port, 2005-2020
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