Seaborne iron ore trade in the 1990s

This paper discusses how world steel production and seaborne iron ore trade have grown since 1950. The role of steel production forecasts in determining investment in the iron ore industry is examined. Forecasts for world steel production and the demand and supply of seaborne iron ore in the 1990s are presented. It is predicted that world steel production will increase by 64 million tons between 1991 and 2000. This increase will be located principally in the developing countries and China. The corresponding increase in seaborne iron ore trade will be approximately 55 million tons. Expansion projects will be located mainly in Australia and Brazil, but no greenfield iron ore projects will be undertaken. By the end of the decade, the demand for seaborne iron ore will be equal to its supply.