US Had the Sixth-Largest Global Reserves of Iron Ore at 6.9 Billion Tonnes (Bt)

Date: 2015-09-02

“• The US had the sixth-largest global reserves of iron ore at 6.9 billion tonnes (Bt) as of January 2015, accounting for 3.6% of global total, with the majority of it found in the Mesabi Iron Ore Range in Minnesota and in Arizona and Texas.

• The US was the third-largest crude steel producer in the world at 88.3Mt in 2014. Increasing demand from the construction and automotive sectors were a major attributing factor for increase in steel production in 2014. 

• The construction industry is the major demand driver for steel, accounting for 40% of total steel consumption in 2014. Automobile production is the second-largest steel consuming sector in the US after the construction industry, accounting for 26% of total steel consumption in 2014.”

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