Iron Ore Prices, Trends & Forecasts | Provided by Procurement Resource

0
37

Iron ore is a variety of mineral ore consisting of iron metal as its key composition element. Several varieties of mineral ores contain iron in them, including hematite, siderite, limonite, goethite, pisolite, titanomagnetite, and magnetite. Iron ore is obtained from the surface mining extraction process, which is a cheaper and cost-effective way to attain Iron ore from the earth’s surface. It is the main raw material source for the iron and steel industry and enables the large-scale production of various steel products in the global market.

Request for Real-Time Iron ore Prices: https://procurementresource.com/resource-center/iron-ore-price-trends/pricerequest

The key importing countries that import Iron ore are China, Nepal, and Vietnam. On the other hand, the key exporting countries include India, Brazil, and Laos.

Key Details About the Iron Ore Price Trend:

Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the iron ore prices in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.

Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.

The iron ore price chart, including India Iron ore price, USA Iron ore price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.

Industrial Uses Impacting Iron Ore Price Trend:

Iron ore is a raw material that is the primary source to attain iron to produce steel and iron products on a commercial scale. Iron ore consists of iron metal in it, which is then processed to make steel and iron materials that are used in industries for various other applications. It is used to manufacture vehicles, machinery, pipes, trails, tools, appliances, furniture, buildings, etc.

Moreover, iron obtained from the ores is used in construction sectors to strengthen the structural support of the designed infrastructures. It makes alloys with chromium, tungsten, manganese, vanadium, nickel, etc. It is further processed to manufacture bicycle chains, bridges, electricity pylons, rifle barrels, and more.

Key Players:

  • Samarco Mineracao S.A.
  • Rio Tinto plc
  • Vale S.A.
  • Anglo American plc
  • Fortescue Metals Group Ltd.

News & Recent Development

  • Date: March 22, 2023– India’s export market dropped around 24% for the exportations of Iron ore in the fiscal year 2022-23.

About Us:

Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.

We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence, providing you with the latest and consistent data.

To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients, with up-to-date and pioneering practices in the industry, to understand procurement methods, supply chain, and industry trends, so that they can build strategies to achieve maximum growth.

Contact Us:

Company Name: Procurement Resource
Contact Person: Chris Byrd
Email: sales@procurementresource.com
Toll-Free Number: USA & Canada – Phone no: +1 307 363 1045 | UK – Phone no: +44 7537 132103 | Asia-Pacific (APAC) – Phone no: +91 1203185500
Address: 30 North Gould Street, Sheridan, WY 82801, USA