COVID-19 and steelmaking raw materials

COVID-19 and steelmaking raw materials

Australian iron ore and metallurgical coal production largely unaffected

Dr Baris Bekir Çiftçi

Head, Strategic Initiatives, worldsteel

It is quite common to see just one country or a very small number of countries dominate global supply in the commodities markets. For example, OPEC countries, together with Russia and the US, dominate global crude oil supply. Steelmaking materials are no exception.

Australia is by far the main supplier of iron ore and metallurgical coal, with exports of both accounting for about 60% of the global seaborne supply in 2019.

Australia is therefore positioned at the heart of the global steel value chain and a major disruption in Australian supply would have a disastrous impact on most steelmakers and their customers all around the world.

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