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Tuesday, July 12, 2011 10:11:37 AM
Almost all iron ore(CWRNs product) is used to make steel. That's why it's one of the world's most important minerals. It's also why demand continues to grow and why it's forecasted to stay extremely strong through 2011. Iron Ore demand is driven by growing blast furnace and DRI steel production. Tight Supply/demand conditions and transportation restrictions are the major factors supporting prices.
How Iron Ore is Used
In the steelmaking process, iron ore(CWRNs product) is alloyed with a variety of elements such as tungsten, manganese, nickel and chromium to give it strength and hardness. The resulting varieties of steel are essential for nearly all industries.
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