What is iron ore index?
What is iron ore index?
Platts Iron Ore Index, or IODEX (IODBZ00), is a benchmark assessment of the spot price of physical iron ore. The assessment is based on a standard specification of iron ore fines with 62% iron, 2.25% alumina, 4% silica and 0.09% phosphorus, among other gangue elements.
What is 98% of iron ore turned into?
Almost all iron ore (98%) is converted into pig iron for steel making which is then used in construction, transportation, energy infrastructure and household appliances.
How iron ore prices are determined?
The international iron ore market determines the prices through annual negotiations, which make it possible to plan the companies with the definition of the prices of these commodities before April of each year [24]. … Price fluctuations have a negative impact on both sides of the demand and supply of iron ore.
What is the latest iron ore price?
108.51 USD
Commodities news
| Commodity | Last price/ contract | Today’s change |
|---|---|---|
| Iron ore As of Dec 13 2021. | 108.51 USD | 0.00 0.00% |
| Silver 5000oz As of Dec 14 2021 07:34 GMT. | 22.25 USD | -0.04 -0.18% |
| Platinum As of Dec 14 2021 09:52 GMT. | 922.00 USD | -2.60 -0.28% |
| COMEX Gold As of Dec 14 2021 08:26 GMT. | 1,780.20 USD | -6.10 -0.34% |
How do you track iron ore in new world?
When players have successfully leveled their Mining ability (by mining boulders to start and then moving to Iron), they’ll be able to “track” Iron mining nodes. As their Mining level grows, more and more ore nodes will be visible to them. Not only will they be able to see Iron, but also Silver, Gold, Platinum, etc.
Who is the biggest iron ore producer in the world?
Australia
List
| Rank | Country | Usable iron ore production (1000 tonnes) |
|---|---|---|
| World | 2,500,000 | |
| 1 | Australia | 930,000 |
| 2 | Brazil | 480,000 |
| 3 | China | 350,000 |
How much is a ton of iron ore worth?
In November 2021, iron ore was valued at approximately 96.24 U.S. dollars per dry metric ton unit (dmtu), as compared to 124.36 U.S. dollars per dmtu in November 2020.
