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Iron ore is the raw material used to make pig iron, which is one of the main raw materials to make steel—98% of the mined iron ore is used to make steel. In 2011 the Financial Times has speculated that iron ore is "more integral to the global economy than any other commodity, except perhaps oil".

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Oct 29, 2019· Kolkata: Tight liquidity conditions in the market delayed payment to contractors and an overall slowdown in government spending on infrastructure activity has pulled down demand for mining and construction equipment sharply by 16-17 per cent year-to-date August CY'2019 on Y-o-Y basis. Following the sharp fall in demand, ICRA Research has scaled down its CY'2019 outlook sharply to a …

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Iron ore prices refer to Iron Ore Fine China Import 62 percent grade Spot Cost and Freight for the delivery at the Chinese port of Tianjin. Is used to make steel for infrastructure and other construction projects. The biggest producers of iron ore are China, Australia and Brazil. Others include India, Russia, Ukraine and South Africa.

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