Industry Analysis & Industry Trends
Over the five years through 2014-15, revenue for the Iron Ore Mining industry is expected to increase at an annualised 13.5% to reach $83.9 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 in subsequent months... purchase to read more
Industry Report - Industry Products Chapter
Companies in the industry mine iron ore and produce iron ore concentrate through a beneficiation process. The final industry products are lump ore (6.3 millimetres to 31.5 millimetres), iron ore fines (less than 6.3 millimetres) and iron ore pellets.
Iron ore fines
Iron ore fines account for the largest share of industry revenue, at an estimated 69.7% in 2014-15. Steel manufacturers typically put fines through a sintering process to agglomerate the ore, making it easier to handle. The proportion of fines in total revenue has edged up slightly over the past five years, from an estimated 68.7% in 2009-10. This gradual shift reflects the nature of iron ore deposits, which typically contain a larger proportion of fines than lump ore... purchase to read more