Industry Analysis & Industry Trends
After a period of major highs and lows, revenue will maintain steady growth over the next five years. Through 2018, production and profit are expected to increase, supported by strong demand for steel from emerging economies and the strengthening of the US economy. However, the price of iron ore is projected to drop in three of the next five years. Nevertheless, over the next five years, industry revenue is anticipated to increase on the back of strong demand from emerging economies such as China... purchase to read more
Industry Report - Industry Analysis Chapter
The US mining sector has grown considerably since the economy entered recovery. In particular, the Iron Ore Mining industry's profit is expected to have grown at an annualized rate of 3.8% to $2.8 billion over the five years to 2013. This growth is attributable to hikes in iron ore prices, which skyrocketed for almost a decade due to rising demand from emerging markets like China and India.
During the recession, however, weak demand and the subsequent drops in output and prices sent revenue crashing in 2009. The sudden drop in iron and steel demand during the downturn caused iron ore prices to fall 48.7%, forcing industry firms to curtail production or close mines and processing facilities to reduce costs... purchase to read more