- Contact Us
Subscribe to our Newsletter
Global Seaborne Iron Ore Market
The global seaborne iron ore market (i.e., iron ore that is exported by ocean trade routes to coastal or near coast steel making plants) represents approximately 42% of total iron ore production and totalled approximately 944 million t in 2009. With just over 68% of total exports in 2009, Australia (384 million t) and Brazil (266 million t) dominate the export market. India (119 million t) and South Africa (44 million t) are also significant contributors to the seaborne market. In terms of iron ore producing companies and based on estimates prepared by AME Mineral Economics, Vale SA, BHP Billiton Limited and Rio Tinto plc were expected to produce 596 million t of iron ore in 2010, representing approximately 63% of the seaborne market. These three companies largely dictate the price of seaborne iron ore through negotiations with some of the world's largest importers including mills in China and Japan.