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 Overview Almost all iron ore 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 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. China's Strength in the Global Market World demand for iron ore presently exceeds supply, exerting sustained upward pressure on prices. The biggest demand factor is China, which has accounted for 86% of overall demand growth since 2006. China is the largest producer and consumer of iron ore, representing approximately 54% and 35% of global demand and supply respectively. Continuous growth in China's long-term demand means that the world's largest steel producer is an important player in international markets, and will remain strong for some time. Iron Ore in Europe In the European market, most iron ore is imported from the southern hemisphere. Swedish iron ore is significantly cheaper for European consumers due to lower shipping costs compared to southern hemisphere iron ore imports. That's why Northland has focused its exploration for iron ore on both Sweden and Finland. On this page we have collected a series of links to articles about iron ore, including commentary on the geology of iron ore, how it's priced and marketed, and current market news. We hope the information will be of use to you as an existing or potential investor in Northland. Any hyperlinks to or from this website or to another website are provided to the user for convenience only. No endorsement of any product or services is expressed or implied from any information, material or content referred to or included on, or linked from this website. Inevitably some of these links will expire over time. General Information on Iron Ore
Mon Sep 29, 2008: October Shareholder Update Thu Mar 1, 2007: India Imposes Iron Ore Export Duty Thu Jul 27, 2006: China's steelmakers may lose ore price fight as demand rise Wed Jun 21, 2006: China concedes to 19% iron ore increase Wed Jun 21, 2006: Rio Tinto reaches price agreement with Chinese Tue Jun 20, 2006: BHP settles iron ore price with Chinese |
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