Industry Analysis & Industry Trends
Over the five years through 2014-15, revenue for the Iron Ore Mining industry is estimated to increase at an annualised 12.5% to reach $80.3 billion. Strong economic growth in large nations, such as China and India, has increased steel production, fuelling demand for iron ore and boosting its price over most of the past five years. Rising prices have led to capacity expansions and large-scale increases in Australia's iron ore output, particularly between 2011-12 and 2014-15.
Following a large decline in 2012-13 due to falling prices, industry revenue rebounded in 2013-14 by 25.2% on the back of higher iron ore output, low iron ore inventories in Chinese ports and increased Chinese steel output. This was despite low prices in January 2014 and subsequent months... purchase to read more
Industry Report - Industry Analysis Chapter
Demand for iron ore is closely tied to steel production and trends in economic growth that drive global demand for steel. Iron ore and steel pricing also affect industry revenue. The key downstream steel-using industries worldwide are construction, motor vehicle manufacturing, shipbuilding, plant and equipment manufacturing and consumer goods manufacturing. Strong economic growth is typically associated with high levels of activity in some or all of these industries, which flows through to rising steel demand and output, and increased iron ore demand and production. Australia is a major global supplier of iron ore... purchase to read more