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Iron Ore Mining in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Iron Ore Mining Market Research Report | NAICS 21221 | Nov 2015

Pumping iron: A decline in the price of iron ore will lead to a drop in revenue

The Iron Ore Mining market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$5bn
Annual Growth 10-15
-10.5%
Annual Growth 15-20
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Profit
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Employment
4,411
Businesses
21
Industry Analysis & Industry Trends

The US mining sector has grown considerably as the economy has recovered. During the recession, weak demand and 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 significantly, forcing industry operators to curtail production or close mines and processing facilities to reduce costs. In the coming years, the industry is expected to continue benefiting from expanding foreign demand... purchase to read more

Industry Report - Industry Analysis Chapter

The US mining sector is highly volatile, affected greatly by business cycles, iron ore prices and international downstream demand for steel. The past five years has had the world price of iron ore fluctuate substantially. Chinese industrialization lead to a construction boom and high demand for steel, leading iron ore prices to skyrocket to record highs in 2011. Conversely, the recent slowdown of the Chinese economy has slowed demand for industry products, causing the world iron ore price to crash to less than half of peak prices over the past year. Industry output has remained relatively stable over the period at over 50.0 million metric tons, yet volatile prices caused industry revenue to vary wildly... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Iron Ore Mining Industry?

Companies in this industry mine iron-bearing ores. In addition to ore extraction, mining includes the development of mine sites and the processing of ore into a concentrated or pellet form. Iron ore and iron ore pellets are then sold as an input for blast-furnace steel production (Iron and Steel Manufacturing industry, IBISWorld report 33111).

Industry Products
Iron ore pelletsConcentratesFine oresSinterOther agglomeratesNuggets
 
Industry Activities
Iron ore miningIron ore beneficiating


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