Iron Ore Top Stories China iron ore futures rise on easing trade tensions, firm demand China's Dalian iron ore futures rose as much as % on Monday, the highest in more than ten days.
Why is iron ore mined? Iron ore is essential to steel production. Steel is a hard and durable alloy made mostly of iron, but combined with smaller amounts of other metals. It is a key building block of industrial society. Steel is used in transportation infrastructure, such as railroad tracks and automobiles, as well as in machinery and appliances.