The market for low-grade iron ore is dominated by Asian economies, which accounted for over 91% of global iron ore purchases in 2024.
Low-grade iron ore (typically containing less than 58–60% Fe) is a vital component of the global steel supply chain. While high-grade ore is preferred for its efficiency and lower emissions, low-grade ore is heavily traded due to its cost-effectiveness, especially when steel mill margins are tight.
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