The Global Iron Ore Mining industry's financial performance has been highly volatile in recent years. From 2010 to 2015, the industry weathered sharp spikes and double-digit declines. After two years of strong growth in 2010 and 2011, revenue contracted in 2012 due to the plummeting price of iron ore. In 2015, industry performance has been weak due to falling iron ore prices and stagnating demand from emerging markets. Consequently, industry revenue is projected to decline 25.5% to total $161.0 billion over the year. Profit has been similarly unstable, and IBISWorld expects it has declined in the five years to 2015.
This industry consists of firms that mine iron-bearing ores (primarily hematite, magnetite and taconite). In addition to ore extraction, mining includes the development of mine sites and the processing of ore mined into a concentrate or pellet form. The iron ore and iron ore pellets are then sold as an input to blast furnace steel production.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.