Global Iron Ore Market Size, Share & Trends Analysis Report, by Product Type (Hematite, Magnetite, Limonite, Siderite, Others), by Form (Mining Site, Sinter Fines, Lumps, Pellets, Others), by End-User (Steel Manufacturing, Others), By Region (North America, Europe, APAC, and Others), and Segment Forecasts, 2024 – 2032
  • Published Date: Dec, 2023
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  • Pages: 200
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  • Methodology
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The iron ore market represents a global ecosystem where the extraction, production, trade, and utilization of iron ore converge. At its core are mining operations engaged in the exploration and extraction of iron ore, utilizing various methods to extract this indispensable raw material from diverse deposits worldwide. Following extraction, iron ore undergoes a comprehensive processing and beneficiation phase, involving crushing, screening, and purification processes to enhance its quality and suitability for steel production. The market offers different product forms, including fines, pellets, and concentrates, tailored to the specific needs of steelmakers. International trade is a defining feature, with iron ore-producing countries exporting to steel-producing nations, creating a complex network of global transactions. The demand for iron ore is intricately linked to the steel industry, acting as a linchpin in the production of this essential alloy. The market's dynamism is reflected in its price dynamics, shaped by factors like production levels, economic conditions, trade policies, and technological advancements.

Global Iron Ore Market was valued at US $ 3065.4 million in 2023 and is expected to reach US $ 6026.4 million by 2032 growing at a CAGR of 7.8% during the forecast period 2024 – 2032.

COVID -19 Impact

The COVID-19 pandemic significantly disrupted the iron ore market, instigating a series of challenges and changes. Supply chain interruptions, stemming from lockdowns and restrictions, posed obstacles to the normal functioning of mining operations, leading to shortages in iron ore supply. As the pandemic induced a slowdown in industrial activities globally, particularly in construction and manufacturing, the demand for steel diminished, thereby impacting the demand for iron ore. This decline in demand, coupled with operational challenges faced by mining companies due to safety protocols and logistical disruptions, contributed to fluctuating iron ore prices and increased market volatility. The global economic uncertainty prompted shifts in investment decisions within the iron ore sector, potentially delaying projects and expansions. Additionally, changes in trade dynamics and patterns emerged as a consequence of the pandemic, influencing international iron ore trade routes. Nevertheless, with the initiation of vaccination efforts and economic recovery measures, there were signs of resilience in the iron ore market, particularly in regions where successful vaccination campaigns allowed for the revival of steel demand. The extent of the lasting impact on the iron ore market continues to evolve, underscoring the ongoing influence of the pandemic on the industry's dynamics. For the latest developments and a comprehensive understanding, current industry reports and market analyses should be consulted.

Factors Driving the Market

Drivers

Rise in the Extraction and Mining Activities

The surge in extraction and mining activities stands as a catalyst for robust market growth in the iron ore industry, propelling a series of interconnected benefits. Amplifying the supply of iron ore, heightened extraction efforts are instrumental in meeting the escalating global demand from steel industries. This heightened availability not only ensures stability in the supply chain but also allows for diversification of sourcing, fostering a resilient and adaptable market. Concurrently, advancements in mining technologies, often concurrent with increased extraction, enhance efficiency and reduce costs, making previously inaccessible iron ore deposits economically viable and contributing to heightened competitiveness within the market. Beyond its impact on the industry itself, the expansion of extraction activities generates economic stimuli, creating jobs, fostering local and national economic growth, and instilling confidence in investors. As extraction levels rise, the industry plays a crucial role in supporting downstream sectors, such as manufacturing and construction, thereby contributing to broader economic development. Additionally, the global opportunities for trade and collaboration expand, with iron ore-rich countries emerging as key suppliers to regions experiencing high steel demand. In essence, the elevation of extraction and mining activities not only meets the immediate demand for iron ore but also underpins the industry's sustained growth, technological progress, and its integral role in the global supply chain.

Challenges

Government regulations for mining

Government regulations for mining, when overly stringent or unpredictable, can impede the market growth of the iron ore industry. Rigorous environmental compliance measures, while crucial for sustainability, often translate into heightened operational costs for mining companies. Lengthy and intricate permitting processes contribute to delays in project commencement or expansion, disrupting the iron ore supply chain's responsiveness to market demands. Land use restrictions, especially in ecologically sensitive areas, limit access to high-quality iron ore deposits, constraining production capacities and impacting market supply. Export restrictions or taxes imposed by governments to promote domestic processing may reduce the competitiveness of iron ore producers on the global stage, affecting market share and growth potential. Alterations in royalty structures can directly impact project viability, discouraging investment and hindering market growth. The necessity for a social license to operate, involving community approval, can lead to project delays and operational interruptions if disputes arise or social acceptance is challenging to attain. Political instability and sudden regulatory shifts introduce uncertainties, deterring investments and stalling market expansion. Additionally, stringent safety and health regulations, though vital for worker well-being, entail additional costs that might affect the overall competitiveness of iron ore producers in the market. Striking a balance between responsible resource extraction and a conducive regulatory framework is imperative to ensure the sustained growth and competitiveness of the iron ore industry in the global market.

Trends

Growing demand for steel industries globally

The escalating demand for steel industries on a global scale serves as a paramount catalyst, profoundly amplifying the growth trajectory of the iron ore market. This symbiotic relationship stems from the pivotal role steel plays in fundamental sectors of economic development. As nations embark on extensive infrastructure projects to accommodate burgeoning populations and foster economic growth, steel emerges as an indispensable component, propelling a surge in demand for iron ore. Rapid urbanization and industrialization, particularly in emerging economies, further intensify this demand, as steel becomes integral to the construction of buildings, transportation networks, and machinery. The automotive sector, experiencing a surge in demand with rising living standards, significantly contributes to the upswing, while consumer goods and appliances, reliant on steel, follow suit. The interconnectedness of global trade and supply chains accentuates the constant need for steel, reinforcing the iron ore market's global significance. Technological advancements in steelmaking processes, coupled with government initiatives and investments in infrastructure, augment this dynamic relationship, driving continuous demand for iron ore. Additionally, the inherent cyclical nature of steel consumption, encompassing replacement and maintenance needs, ensures a sustained and robust market for iron ore. In essence, the growing demand for steel industries emerges as the linchpin for the flourishing iron ore market, reflecting not only economic vitality but also the foundational role of iron ore in meeting the demands of a rapidly evolving global industrial landscape.

Market Segmentation

By Product Type

By Product Type, the global Iron Ore Market is divided into Hematite, Magnetite, Limonite, Siderite, Others.

Hematite is the undisputed champion, accounting for an estimated 69.16% share of the global iron ore market as of 2023. Magnetite is experiencing the fastest growth, with a projected CAGR of 4.8% between 2024 and 2032.

Hematite and magnetite, play distinctive roles, with hematite holding a leading position and magnetite emerging as the fastest-growing segment. Hematite, characterized by its silver to black metallic luster, has been a cornerstone in the iron ore industry due to its widespread availability and high iron content. As a primary source for steel production, hematite ore is renowned for its efficiency in the blast furnace process, contributing to its longstanding dominance in the market. The preeminence of hematite is rooted in its abundance and straightforward processing. Hematite ores require minimal beneficiation to meet industry standards, making them a cost-effective choice for iron and steel manufacturers. The simplicity of the extraction process, coupled with the high iron content, positions hematite as a reliable and established source for global steel production.

Conversely, magnetite, characterized by its magnetic properties and deep black color, is rapidly gaining traction as the fastest-growing segment in the iron ore market. The growth of magnetite can be attributed to its distinctive metallurgical advantages. Boasting higher iron content than hematite, magnetite is increasingly favored in modern steelmaking processes. Its magnetic properties also make it conducive to efficient separation during processing, further enhancing its appeal.

The surge in demand for magnetite is further propelled by environmental considerations and the evolution of steelmaking technologies. As industries strive for greater sustainability, magnetite's suitability for use in advanced and eco-friendly processes positions it at the forefront of innovation. Additionally, the growing preference for magnetite aligns with the increasing adoption of direct reduction methods and alternative ironmaking processes, contributing to its status as the fastest-growing player in the iron ore market.

By Form

By Form, the global Iron Ore Market is divided into Mining Site, Sinter Fines, Lumps, Pellets, Others.

Sinter fines currently hold the top spot in the iron ore market, accounting for an estimated 49.12% share in 2023. Pellets are the clear frontrunner in terms of growth, with a projected CAGR of 5.7% between 2023 and 2032.

Sinter fines have long held a leading position, traditionally utilized in blast furnace operations. This finely ground and agglomerated iron ore product has proven to be a cost-effective solution for industries seeking an efficient means of processing and transporting fine iron ore materials. The sintering process, involving the heating of fine particles to create a cohesive mass, has been a hallmark of iron and steel production, particularly in regions with established blast furnace operations. Its historical significance and reliability in traditional production methods have contributed to the enduring prominence of sinter fines.

Concurrently, iron ore pellets have emerged as the fastest-growing segment in the market, driven by a confluence of factors that align with evolving industry needs. Pellets, small and spherical in form, are produced through a pelletizing process that enhances their metallurgical properties. These pellets exhibit superior strength and reducibility, making them particularly favorable for modern steelmaking processes. The rise in demand for high-quality iron ore pellets is attributed to their suitability for use in changing steelmaking technologies, such as electric arc furnaces (EAF) and direct reduction processes. Moreover, pellets have gained traction due to their environmental advantages, as the pelletization process enables the use of lower-grade ores and contributes to reduced emissions during steel production.

As the iron ore market undergoes transformative changes influenced by technological advancements, environmental considerations, and shifting steel industry trends, the interplay between sinter fines and pellets reflects a nuanced dynamic. While sinter fines maintain their leading role grounded in tradition and cost efficiency, pellets represent the forefront of innovation, offering enhanced metallurgical properties and aligning with environmentally conscious practices. The competition and synergy between these two forms of processed iron ore underscore the adaptability of the market in meeting the demands of a rapidly evolving global steel industry.

By End-User

By End-user, the Iron Ore Market is divided by Steel Manufacturing, Others.

The steel industry is the undisputed leader in the iron ore market, consuming over 72% of global iron ore production. The growth of the steel industry is expected to remain steady, with a projected CAGR of 3.27% between 2024 and 2032.

Steel manufacturing not only holds a commanding position in the iron ore market but is also emerging as the fastest-growing sector within this industry. The inseparable link between iron ore and steel production underscores the critical role of iron ore as the primary raw material in the steelmaking process. Across the globe, steel manufacturing plays a pivotal role in various sectors, with its applications ranging from infrastructure development to automotive and manufacturing industries. As nations pursue ambitious goals of economic growth and urbanization, the steel demand continues to rise, solidifying the leading status of steel manufacturing in the iron ore market. The fastest-growing aspect of the steel industry is propelled by several key factors. Technological advancements are reshaping steel manufacturing, introducing processes like direct reduction and green steel technologies that enhance efficiency and reduce environmental impact. Sustainability has become a focal point, prompting the industry to explore cleaner practices, including hydrogen-based steelmaking. Recycling trends, particularly through electric arc furnaces, are gaining prominence, contributing to a more circular economy and further accelerating the growth of the steel sector.

The dynamic nature of the steel manufacturing sector is evident in its adaptability to transformative changes. As the industry navigates toward sustainability, innovation, and recycling, it not only maintains its leading position in the iron ore market but also paves the way for unprecedented growth. The trajectory of steel manufacturing reflects a commitment to meeting global demands while embracing advancements that align with environmental consciousness, solidifying its role as both a leader and a driver of growth within the iron ore market.

By Region

By region, the global Iron Ore Market is divided into North America, Europe, APAC and Others. Others is further divided into Middle East, Africa and South America.

Asia-Pacific, particularly China, remains the undisputed leader with 52.75% in the iron ore market. South America is projected to experience a Compound Annual Growth Rate (CAGR) of 20.2% in the iron ore market between 2024 and 2032.

The iron ore market exhibits a noteworthy dynamic with the Asia-Pacific (APAC) region leading in consumption and South America emerging as the fastest-growing player. APAC, spearheaded by China, has been a longstanding powerhouse due to its robust steel industry and extensive infrastructure projects. As the largest steel producer globally, China's demand for iron ore significantly influences the market, positioning APAC at the forefront of consumption and imports. On the other hand, South America, particularly Brazil, stands out as a key supplier of iron ore to meet the soaring demand from APAC and other global markets. South America's rapid growth in the iron ore sector can be attributed to its abundant resources, ongoing investments in infrastructure, adoption of advanced mining technologies, and efforts to diversify export destinations. These factors collectively contribute to the evolving landscape of the iron ore market, with both APAC and South America playing crucial roles in shaping its trajectory.

Competitive Landscape

The global Iron Ore Market is consolidated with the presence of few major players contributing to the market revenue. This dominance of these major players is driven by their technological expertise, extensive resources, and established brand recognition. These companies typically offered comprehensive and diversified solutions to end use industries.

  • Vale SA

Vale SA, formerly known as Companhia Vale do Rio Doce, stands as a prominent Brazilian multinational corporation, holding a key position in the mining and metals industry worldwide. Recognized as the primary producer of iron ore and nickel, the company plays a pivotal role in the global supply chain for these essential materials.

  • Rio Tinto

Headquartered in Melbourne, Australia, Rio Tinto is a formidable multinational corporation in the mining and metals sector. As the second-largest global producer of iron ore, it commands a significant presence in various metals, including copper, aluminum, and diamonds. Operating in 35 countries and boasting a workforce of over 50,000, Rio Tinto's influence spans continents. Rio Tinto stands at a pivotal crossroads in its trajectory. Striking a delicate balance between economic success, environmental stewardship, and community involvement is essential for ensuring its enduring sustainability. Through a dedicated commitment to innovation and a focus on environmentally friendly metals, the company is well-positioned for potential growth amidst the evolving dynamics of the mining industry

  • BHP Billiton

BHP Group, formerly known as BHP Billiton, is an iconic name in the mining industry. Established in 1885 as the Broken Hill Proprietary Company in Australia, it has evolved into a formidable global force, involved in the extraction and trade of diverse resources such as iron ore, copper, nickel, and coal. The future trajectory of BHP Group relies on successfully navigating challenges and seizing emerging opportunities. Through a commitment to sustainability, the adoption of cutting-edge technologies, and the cultivation of trust with stakeholders, BHP is poised to flourish in the continually evolving mining terrain.

  • Fortescue Metals Group
  • Anglo American plc
  • ArcelorMittal, BAOSTEEL GROUP
  • China Steel Corporation
  • CLEVELAND-CLIFFS
  • Fortescue Metals Group
  • Gerdau, Hanwha Group
  • Hindustan Zinc
  • Hyundai Steel
  • JFE Holdings
  • Jiangxi Copper
  • Kumba Iron Ore
  • METALMINER
  • Nippon Steel & Sumitomo Metal
  • Shougang Group

Recent Developments

  • In the year 2021, ArcelorMittal Nippon Steel India (AM/NS India), a collaborative effort between the renowned steel companies Arcelormittal and Nippon Steel, expressed interest in partnering with Srei group companies to address challenges associated with insolvency proceedings.
  • In Dec. 2023, The Brazilian mining powerhouse is set to leverage green hydrogen for powering its mining operations, aiming to significantly decrease emissions.
  • In Dec. 2023, Despite facing weather challenges, the company's Pilbara mines have surpassed expectations.
  • In Dec. 2023, The recent agreement underscores the sustained demand for top-tier Australian iron ore.

Iron Ore Market Scope

Report Components Details
Base Year 2023
Forecast Period 2024 – 2032
Quantitative Units Revenue in US $
Drivers Rise in the Extraction and Mining Activities, High Usage for Constructional Purpose, Expansion of Steel Industries
Challenges Stringent Mining Approval Process, Government regulations for mining
Trends Growing demand for steel industries globally, Significant investments in research and development activities
Segments Covered by Product Type (Hematite, Magnetite, Limonite, Siderite, Others), by Form (Mining Site, Sinter Fines, Lumps, Pellets, Others), by End-User (Steel Manufacturing, Others)
Countries Covered U.S. and Canada in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the APAC, Others include Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA), Brazil, Argentina, Mexico, and Rest of South America as part of South America
Market Players Covered Vale SA, Rio Tinto, BHP Billiton, Fortescue Metals Group, Anglo American plc, ArcelorMittal, BAOSTEEL GROUP, China Steel Corporation, CLEVELAND-CLIFFS, Fortescue Metals Group, Gerdau, Hanwha Group, Hindustan Zinc, Hyundai Steel, JFE Holdings, Jiangxi Copper, Kumba Iron Ore, METALMINER, Nippon Steel & Sumitomo Metal, Shougang Group

Table of Contents

INTRODUCTION OF GLOBAL IRON ORE MARKET

1.1 Overview of the Market

1.2 Scope of Report

1.3 Assumptions

 

2 EXECUTIVE SUMMARY

 

3 RESEARCH METHODOLOGY

3.1 Data Mining

3.2 Validation

3.3 Primary Interviews

3.4 List of Data Sources

 

4 GLOBAL IRON ORE MARKET OUTLOOK

4.1 Overview

4.2 Market Dynamics

4.2.1 Drivers

4.2.2 Restraints

4.2.3 Opportunities

4.3 Porters Five Force Model

4.3.1. Bargaining Power of Suppliers

4.3.2. Threat of New Entrants

4.3.3. Threat of Substitutes

4.3.4. Competitive Rivalry

4.3.5. Bargaining Power among Buyers

4.4 Value Chain Analysis

5 GLOBAL IRON ORE MARKET, BY PRODUCT TYPE

5.1 Overview

5.2 Hematite

5.3 Magnetite

5.4 Limonite

5.5 Siderite

5.6 Others

6 GLOBAL IRON ORE MARKET, BY FORM

6.1 Overview

6.2 Mining Site

6.3 Sinter Fines

6.4 Lumps

6.5 Pellets

6.6 Others

7 GLOBAL IRON ORE MARKET, BY END-USER

7.1 Overview

7.2 Steel Manufacturing

7.3 Others

8 GLOBAL IRON ORE MARKET, By REGION

8.1 North America

8.1.1 U.S.

8.1.2 Canada

8.2 Europe

8.2.1 Germany

8.2.3 U.K.

8.2.4 France

8.2.5 Rest of Europe

8.3 Asia Pacific

8.3.1 China

8.3.2 Japan

8.3.3 India

8.3.4 South Korea

8.3.5 Singapore

8.3.6 Malaysia

8.3.7 Australia

8.3.8 Thailand

8.3.9 Indonesia

8.3.10 Philippines

8.3.11 Rest of Asia Pacific

8.4 Others

8.4.1 Saudi Arabia

8.4.2 U.A.E.

8.4.3 South Africa

8.4.4 Egypt

8.4.5 Israel

8.4.6 Rest of Middle East and Africa (MEA)

8.4.7 Brazil

8.4.8 Argentina

8.4.9 Mexico

8.4.10 Rest of South America

9 COMPANY PROFILES

9.1 Vale SA

9.1.1. Company Overview

9.1.2. Key Executives

9.1.3. Operating Business Segments

9.1.4. Product Portfolio

9.1.5. Financial Performance (As per availability)

9.1.6 Key News

 

9.2 Rio Tinto

9.2.1. Company Overview

9.2.2. Key Executives

9.2.3. Operating Business Segments

9.2.4. Product Portfolio

9.2.5. Financial Performance (As per availability)

9.2.6. Key News

 

9.3 BHP Billiton

9.3.1. Company Overview

9.3.2. Key Executives

9.3.3. Operating Business Segments

9.3.4. Product Portfolio

9.3.5. Financial Performance (As per availability)

9.3.6. Key News

 

9.4 Fortescue Metals Group

9.4.1. Company Overview

9.4.2. Key Executives

9.4.3. Operating Business Segments

9.4.4. Product Portfolio

9.4.5. Financial Performance (As per availability)

9.4.6. Key News

 

9.5 Anglo American plc

9.5.1. Company Overview

9.5.2. Key Executives

9.5.3. Operating Business Segments

9.5.4. Product Portfolio

9.5.5. Financial Performance (As per availability)

9.5.6. Key News

 

9.6 ArcelorMittal

9.6.1. Company Overview

9.6.2. Key Executives

9.6.3. Operating Business Segments

9.6.4. Product Portfolio

9.6.5. Financial Performance (As per availability)

9.6.6. Key News

 

9.7 Baosteel Group

9.7.1. Company Overview

9.7.2. Key Executives

9.7.3. Operating Business Segments

9.7.4. Product Portfolio

9.7.5. Financial Performance (As per availability)

9.7.6. Key News

 

9.8 China Steel Corporation

9.8.1. Company Overview

9.8.2. Key Executives

9.8.3. Operating Business Segments

9.8.4. Product Portfolio

9.8.5. Financial Performance (As per availability)

9.8.6. Key News

 

9.9 Cleveland-Cliffs

9.9.1. Company Overview

9.9.2. Key Executives

9.9.3. Operating Business Segments

9.9.4. Product Portfolio

9.9.5. Financial Performance (As per availability)

9.9.6. Key News

 

9.10 Fortescue Metals Group

9.10.1. Company Overview

9.10.2. Key Executives

9.10.3. Operating Business Segments

9.10.4. Product Portfolio

9.10.5. Financial Performance (As per availability)

9.10.6. Key News

 

9.11 Gerdau

9.11.1. Company Overview

9.11.2. Key Executives

9.11.3. Operating Business Segments

9.11.4. Product Portfolio

9.11.5. Financial Performance (As per availability)

9.11.6. Key News

 

9.12 Hanwha Group

9.12.1. Company Overview

9.12.2. Key Executives

9.12.3. Operating Business Segments

9.12.4. Product Portfolio

9.12.5. Financial Performance (As per availability)

9.12.6. Key News

 

9.13 Hindustan Zinc

9.13.1. Company Overview

9.13.2. Key Executives

9.13.3. Operating Business Segments

9.13.4. Product Portfolio

9.13.5. Financial Performance (As per availability)

9.13.6. Key News

 

9.14  Hyundai Steel

9.14.1. Company Overview

9.14.2. Key Executives

9.14.3. Operating Business Segments

9.14.4. Product Portfolio

9.14.5. Financial Performance (As per availability)

9.14.6. Key News

 

9.15 JFE Holdings

9.15.1. Company Overview

9.15.2. Key Executives

9.15.3. Operating Business Segments

9.15.4. Product Portfolio

9.15.5. Financial Performance (As per availability)

9.15.6. Key News

 

9.16 Jiangxi Copper

9.16.1. Company Overview

9.16.2. Key Executives

9.16.3. Operating Business Segments

9.16.4. Product Portfolio

9.16.5. Financial Performance (As per availability)

9.16.6. Key News

 

9.17 Kumba Iron Ore

9.17.1. Company Overview

9.17.2. Key Executives

9.17.3. Operating Business Segments

9.17.4. Product Portfolio

9.17.5. Financial Performance (As per availability)

9.17.6. Key News

 

9.18 MetalMiner

9.18.1. Company Overview

9.18.2. Key Executives

9.18.3. Operating Business Segments

9.18.4. Product Portfolio

9.18.5. Financial Performance (As per availability)

9.18.6. Key News

 

9.19 Nippon Steel & Sumitomo Metal

9.19.1. Company Overview

9.19.2. Key Executives

9.19.3. Operating Business Segments

9.19.4. Product Portfolio

9.19.5. Financial Performance (As per availability)

9.19.6. Key News

 

9.20 Shougang Group

9.20.1. Company Overview

9.20.2. Key Executives

9.20.3. Operating Business Segments

9.20.4. Product Portfolio

9.20.5. Financial Performance (As per availability)

9.20.6. Key News

Global Iron Ore Market Segmentation

Iron Ore by Product Type: Market Size & Forecast 2023-2032

  • Hematite
  • Magnetite
  • Limonite
  • Siderite
  • Others

Iron Ore by Form: Market Size & Forecast 2023-2032

  • Mining Site
  • Sinter Fines
  • Lumps
  • Pellets
  • Others

Iron Ore by End-user: Market Size & Forecast 2023-2032

  • Steel manufacturing
  • Others

Iron Ore by Geography: Market Size & Forecast 2023-2032

  • North America (USA, Canada, Mexico)
  • Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
  • South America (Brazil, Argentina, Columbia, Rest of South America)
  • Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Major Players:

  • Vale SA
  • Rio Tinto
  • BHP Billiton
  • Fortescue Metals Group
  • Anglo American plc
  • ArcelorMittal, BAOSTEEL GROUP
  • China Steel Corporation
  • CLEVELAND-CLIFFS
  • Fortescue Metals Group
  • Gerdau, Hanwha Group
  • Hindustan Zinc
  • Hyundai Steel
  • JFE Holdings
  • Jiangxi Copper
  • Kumba Iron Ore
  • METALMINER
  • Nippon Steel & Sumitomo Metal
  • Shougang Group

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