Iron Ore Stocks List
Symbol | Grade | Name | % Change | |
---|---|---|---|---|
CLF | F | Cliffs Natural Resources Inc | -1.18 | |
RIO | B | Rio Tinto Plc | -0.49 | |
MSB | F | Mesabi Trust | 3.42 |
Related Industries: Asset Management Industrial Metals & Minerals
Symbol | Grade | Name | Weight | |
---|---|---|---|---|
SLX | C | Market Vectors Steel Index ETF Fund | 14.84 | |
XME | B | SPDR S&P Metals & Mining ETF | 3.9 | |
ICOP | A | iShares Copper and Metals Mining ETF | 3.63 | |
FXZ | C | First Trust Materials AlphaDEX Fund | 3.21 | |
LBAY | B | Leatherback Long/Short Alternative Yield ETF | 2.56 |
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- Iron Ore
Iron ores are rocks and minerals from which metallic iron can be economically extracted. The ores are usually rich in iron oxides and vary in colour from dark grey, bright yellow, or deep purple to rusty red. The iron itself is usually found in the form of magnetite (Fe3O4, 72.4% Fe), hematite (Fe2O3, 69.9% Fe), goethite (FeO(OH), 62.9% Fe), limonite (FeO(OH)·n(H2O), 55% Fe) or siderite (FeCO3, 48.2% Fe).
Ores containing very high quantities of hematite or magnetite (greater than about 60% iron) are known as "natural ore" or "direct shipping ore", meaning they can be fed directly into iron-making blast furnaces. Iron ore is the raw material used to make pig iron, which is one of the main raw materials to make steel—98% of the mined iron ore is used to make steel. Indeed, it has been argued that iron ore is "more integral to the global economy than any other commodity, except perhaps oil".
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