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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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China's top iron ore trading platform eyes record volumes on robust steel output 20 Sep 2018 Steel Volumes at China's biggest physical iron ore trading platform may hit record levels this year, with demand for the steelmkaing raw material pushed up as steel output has been strong despite polluti

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China, the world's biggest consumer of the steelmaking ingredient, has ramped up buying of higher-quality, less polluting grades of iron ore as it battles to clear its notoriously smoggy skies.

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