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Iron Ore (Fe) is mined in around 50 countries worldwide and used to make steel (buildings, cars, white goods etc.). Global economic growth is the primary factor that drives its supply and demand. When economies are growing, the need for steel in construction increases which drives the price up.
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Evolution of iron ore prices SpringerLink
Evolution of iron ore prices. Authors; Authors and affiliations discontinuation of benchmark negotiations were largely determined on the one hand by the cost of production of Chinese iron ores or concentrates and the price for imported ores on the other. UNCTAD, Trust Fund Project on Iron Ore Information (2010) Iron ore statistics, New
