Iron Ore, Twenty-Four Years Of Trade Wars: From $13 In 2002 To Historic Records And China’s Challenge

In 2002, one tonne of iron ore cost around $13 according to the contract reference cited in MINING.COM’s historical reconstruction. The price emerged from annual negotiations conducted away from public markets, between major Australian and Brazilian mining companies and Japanese steelmaking groups. Twenty-four years later, iron ore is one of the world’s most traded commodities: […]