Iron Ore.... High Demand ProductIron Ore: High Demand Product
•Demand for iron ore is expected to double in the next 15 years
Source: Mining Weekly May 2010
•According to the World Steel Association, the crude global steel production in May 2010 was 124 million tonnes, up 29% from 2009
Source: Canaccord, June 2010
•The price of iron ore, the key raw material for making steel, will average 21 percent higher this year and may jump to a record should anticipated supply growth be curbed, according to Credit Suisse Group AG
Source: Bloomberg, 7 January 2011 ``Iron ore may jump to record $250 ton in 2011 Credit Suisse says``
•Iron ore prices are forecast to increase by approximately 22% in the first half of the year (2011), with China continuing to be the main importer of the mineral and driver of global demand.
Source: January 14, 2011 Brokerage's mining and steel analyst Rafael Weber told BNamericas
•“Macquarie bullish on iron ore” and also states “Bulk commodities are set for a year (2011) of new highs, in particular iron ore” Source: miningnewspremium.net, January 20,2011