Industry Analysis & Industry Trends
Over the five years through 2015-16, the Iron Ore Mining industry's revenue is expected to decrease at an annualised 4.1% to $52.1 billion. Early in the five-year period, strong economic growth in China led to increased iron ore mining development and drove greater steel production. This fuelled demand for iron ore and contributed to high world iron ore prices. Following a revenue decline in 2012-13, due to reduced Chinese demand, industry revenue rebounded in 2013-14 on the back of a weaker Australian dollar, higher output, low Chinese inventories and increased Chinese steel output.
However, iron ore prices (denominated in US dollars) started falling in mid-2014 due to a global oversupply... 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 iron ore fines (less than 6.3 millimetres), lump ore (6.3 millimetres to 31.5 millimetres and iron ore pellets.
Iron ore fines
Iron ore fines account for the largest share of industry revenue, at an estimated 74.5% in 2015-16, and an estimated 78.1% of industry volume. Steel manufacturers typically put fines through a sintering process to agglomerate the ore, making it easier to handle. The proportion of industry revenue generated by iron ore fines has increased over the past five years. Iron ore fines are also expected to account for an increasing proportion of industry volume... purchase to read more