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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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    to blast furnaces included steel-furnace slag, mill scale, and slag scrap. Prices Most iron ore prices are negotiated between buyer and seller. About 80% of domestic ore is produced by captive mines (mines producing for company-owned blast furnaces) and therefore does not reach the open market. The average free-on-board mine value of usable ore …

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    Iron ore prices have diverged from scrap, suggesting scrap may currently be overvalued. The interplay of iron ore and steel scrap in China is seen as a barometer of the health of the two predominant steelmaking routes – blast furnace and electric arc furnace – and can suggest which route may have the upper hand in terms of competitiveness. The scrap market tends to move in line with iron ...

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    A steel mill or steelworks is an industrial plant for the manufacture of steel. It may be an integrated steel works carrying out all steps of steelmaking from smelting iron ore to rolled product, but may also describe plants where steel semi-finished casting products (blooms, ingots, slabs, billets) are made, from molten pig iron or from scrap. History. …

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