How The Iron Ore Market Works Vale Rio
Iron ore is the third most common element making up the Earth. The principle components of iron ore are hematite and magnetite. Taconite is a low-grade iron ore. Iron ore is not strong enough for construction and other purposes, so raw iron is alloyed with other elements such as tungsten, manganese, nickel, vanadium and chromium. The steel made from iron ore is used in construction, automobile manufacturing and other industrial applications.