Industry Analysis & Industry Trends
Over the five years through 2014-15, Iron Ore Mining industry revenue is expected to increase at an annualised 7.2% to $63.1 billion. Strong economic growth in China increased development and drove greater steel production, fuelling demand for iron ore and contributing to high iron ore prices, particularly in the years prior to 2013-14. However, iron ore prices (denominated in US dollars) started falling in mid-2014 due to global iron ore oversupply, partly offset by a weaker Australian dollar. Overall, relatively high iron ore prices until this time provided an incentive for Australian iron ore mining firms to increase production to benefit from higher Chinese demand. This led to major capacity expansions and large-scale increases in Australia's iron ore output in the past five years... 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 75.9% in 2014-15, and an estimated 79.9% of industry volumes. 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 69.5% in 2009-10, with volumes up from 72.3%... purchase to read more