The Global Iron Ore Market is Projected to Reach 2.3 Billion Metric Tons by 2024
India Coupled With Other Emerging Markets to Offset the Slowdown in Chinese Iron Ore Consumption, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Iron Ore markets. The global Iron Ore market is projected to reach 2.3 billion metric tons by 2024 , driven by increasing consumption in India, Turkey and other emerging markets, even as Chinese consumption slows down. Iron (Fe), which comprises about 5% of the Earth's crust, is a natural and extremely useful metallic element. It is the most commonly used metal in the world, finding utility in various applications such as industrial, maritime, structural engineering, and automobiles. Though, iron-rich rocks are common in several countries across the globe, the constraint of commercial mining lies in the location of the ore in relation to the market, which indicates the cost associat...