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The question is... who's going to smelt iron ore? In fact I think it was the head of US Steel, who put it succinctly several years ago: Somebody has to turn ir
by analog31 3y ago
The question is... who's going to smelt iron ore?
In fact I think it was the head of US Steel, who put it succinctly several years ago: Somebody has to turn iron ore into iron.
- ethbr1 3y agoA huge amount of global iron ore comes from Australia. [0,1] And globally in descending reserves order: Australia, Brazil, Russia. China's extraction:reserves ratio is much higher and will exhaust reserves much quicker than the others. So it'd make more sense to smelt it close, given the volume/weight ratio of ore to refined material. Transport by sea... but that's still A LOT of tonnage to move ore. [0] https://www.statista.com/statistics/267381/world-reserves-of-iron-ore-by-country/ https://www.statista.com/statistics/267381/world-reserves-of... [1] https://en.m.wikipedia.org/wiki/List_of_countries_by_iron_ore_production https://en.m.wikipedia.org/wiki/List_of_countries_by_iron_or...