Iron Ore Review: New Pricing, Tight Supplies and Chinese Demand Defined the Year's Market

摘要

World production of iron ore fell by 6.2% in 2009 and did not quite reach 1.6 billion mt-the first drop in production after seven consecutive years of growth. Output decreased in most countries, with a few notable exceptions such as Australia and South Africa. Developing countries accounted for a little less than 59% of world iron ore production in 2009 (down from 60% in 2008), the CIS republics for 12% and the industrialized economies for 29%. The increase for the industrialized economies was due almost exclusively to growth in Australia. China produced 234 million mt on a comparable grade basis. China, which once was the largest producer, has dropped to third place behind Australia at 394 million mt and Brazil at 300 million mt.