Iron ore
Iron ore
Iron ore is the primary raw material used to make steel. Steel is strong, long-lasting and cost-efficient – making it perfect for everything from washing machines to cars, bridges and skyscrapers.
According to the World Steel Association, steel is the most commonly used alloy in the world. Global steel consumption is forecast to grow by 1%-2% per annum over the next decade.
The first known steel application dates as far back as 11th century BC, in Cyprus where archaeologists found material suggesting that steel knives were already being made. Four centuries later, the Greek historian Herodutus made reference to steel-inlaid bowls and, in the 3rd century BC, South Indian craftsmen were known to produce steel by smelting wrought iron with charcoal, using clay containers.
The Bessemer process to manufacture steel was developed by British inventor Henry Bessemer in the mid-1850s. In the middle of the twentieth century, the Bessemer process was refined into the Basic Oxygen Process that is still used today in blast furnaces.
Today, new technologies have great potential to improve how we engage with our markets. For example, our China portside customers can order iron ore via a mobile app.
