Global production of iron ore products reached 2.2 billion tonnes in 2020 and is expected to reach 2.35 billion tonnes in 2021, according to Fastmarkets.
Despite the covid-19 pandemic, Chinese demand and Brazilian supply constraints have propelled iron ore prices to decade-highs above $175 a tonne this quarter.
Global total exports amounted 1,170 million tonnes in 2020, 9.3% higher than in 2019. Total China imports exceeded 73% of the world total shipped.
Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services.