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Temporal and spatial evolution of global iron ore supply-demand and trade structure

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  • Song, Yunting
  • Wang, Nuo
  • Yu, Anqi

Abstract

Driven by economic demand, the world's iron ore production has been on the rise since the 1970s. The total production has increased 1.77 times, with an average annual growth rate of 2.24%, indicating that iron ore production has become a large-scale industry. The total output of iron ore in international trade has increased 4.35 times, with an average annual growth rate of 3.72%, iron ore has become one of the main seaborne cargo. The above supply-demand structure suggests that the world's steel industries are mainly supported by sea-transportation across the northern and southern hemispheres, and the continued supply from specific countries. There is almost no alternatives. Such a fragile industrial chain is obviously not conducive to the security of the world economy, and it also buries potential risks for the development of related industries. This analysis reveals that it has become an important task for relevant countries to formulate new economic policies to deal with the unbalanced supply-demand and trade structure of iron ore resources in the world.

Suggested Citation

  • Song, Yunting & Wang, Nuo & Yu, Anqi, 2019. "Temporal and spatial evolution of global iron ore supply-demand and trade structure," Resources Policy, Elsevier, vol. 64(C).
    • Handle: RePEc:eee:jrpoli:v:64:y:2019:i:c:s0301420717306050
    DOI: 10.1016/j.resourpol.2019.101506
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    References listed on IDEAS

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    6. Yves Jégourel, 2020. "Les relations politiques entre la Chine et l’Australie, un élément- clé de la géopolitique mondiale des ressources," Policy briefs on Trade Dynamics and Policies 2008, Policy Center for the New South.
    7. Yves Jégourel, 2020. "Les relations politiques entre la Chine et l’Australie, un élément- clé de la géopolitique mondiale des ressources," Policy briefs on Economic Trends and Policies 2044, Policy Center for the New South.
    8. Zhao, Pengjun & He, Zhangyuan & Yin, Liangming & Xiao, Renrong & Chen, Jun & Tang, Junqing & Gong, Zhao Ya & Zhang, Wenjia, 2022. "Changes in the geographical distribution of global iron ore shipping flows, 2000–2019," Journal of Transport Geography, Elsevier, vol. 99(C).
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    11. Geng Xu & Fei Li & Peipei Jiang & Shiqiu Zhang, 2023. "Preparation of Red Iron by Magnetization Roasting-Hydrothermal Method Using Ultra-Low-Grade Limonite," Sustainability, MDPI, vol. 15(6), pages 1-13, March.
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