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Prices for iron ore have seen better days. The steelmaking ingredient is currently languishing around 60 per ton and many commodity analysts expect it to dip as low as 45 in the second half of 2015. Despite the doom and gloom, these companies continue to push forward. Find out who the top producing iron ore companies will be in 2015. 10.
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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. Indeed, it has been argued that iron ore is "more integral to the global economy than any other commodity, except perhaps oil ".
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The HIsarna ironmaking process is a process in which iron ore is processed almost directly into liquid iron or hot metal. The process is based around a type of blast furnace called a cyclone converter furnace, which makes it possible to skip the process of manufacturing pig iron pellets that is necessary for the basic oxygen steelmaking process
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Sep 17, 2015· An oversupply of iron ore combined with China adding more steelmaking capacity than it needed, resulted in a slump in the iron ore spot prices over the .
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Iron ore is converted into various types of iron through several processes. The most common process is the use of a blast furnace to produce pig iron which is about 9294% iron and 35% carbon with smaller amounts of other elements.