Iron Ore Prices and Forecasts | Provided by Procurement Resource

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Iron oxides are abundant in rocks and minerals known as iron ore, which makes them perfect for the economically advantageous extraction of iron. The world's iron and steel industries mostly rely on it. These ores are stiff in appearance and can range in colour from rusty red to bright yellow, deep purple, and dark grey.

The top five producers of iron ore worldwide are Australia, Brazil, South Africa, Canada, and Ukraine.

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 price 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, 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:

Radioactive iron is used in the production of pharmaceuticals and as a tracer element in metallurgical and biochemical research. Iron ore is used for this purpose. Printing ink, cosmetics, paints, plastics, and enamel finishes for automobiles and other equipment all contain iron blue. The residual black iron oxide is used as a pigment in the electronics sector as well as for polishing materials, ferrites, metallurgy, pharmaceuticals, and magnetic inks.

Key Market Players:

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

News and Events:

• September 20, 2022: Australian-based Fortescue Metals Group announced that it will spend about USD 6.2 billion to stop using fossil fuels in order to achieve the true zero terrestrial emissions objective for all of its iron ore operations by the end of the decade.

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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 track the prices and production costs of a wide variety of goods and commodities, hence, providing you with the latest and consistent data.

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