Steel prices have been going up sharply in recent memories due to growing expansion of global economy; especially China. Is the world running short on supply causing prices to sky-rocket?
2006-07-02 14:40:23 · 3 answers · asked by speed2006 2 in Business & Finance ➔ Investing
The largest supplies are in Australia and Brazil then USA...yes prices have been going through the roof.
here are some of the leading producers...you can see how the price of there establishments have increased along with steel prices.
http://finance.yahoo.com/q?s=RIO,BHP,RTP,X&d=s
this link shows you the industry...:
http://biz.yahoo.com/ic/r/rio.html
2006-07-02 17:20:55 · answer #1 · answered by duckboy007 2 · 0⤊ 0⤋
Minnesota has a area by Duluth called the Mesabi Iron Range that contains taconite which is basiclly iron ore I think. What happened was prices were really low for many years and alot of companies went out of business and when the demand picked up a few years ago there weren't enough production to keep up with demand.
2006-07-03 00:46:54 · answer #2 · answered by NOVA50 3 · 0⤊ 0⤋
Over 70% of the US supply of iron comes from Northern Minnesota.
2006-07-03 10:53:14 · answer #3 · answered by Ranto 7 · 0⤊ 0⤋