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in Global Business Prospects

Conference on Trade and Development United Nations (UN) in its report stated, the world's iron ore production in 2011 weighing a record 1.92 billion tons, while the total volume of international iron ore trade reached 1.115 billion tons.

UN report said iron ore production continued to increase in line with the recovery of the iron and steel sector after the global economic crisis, the export of iron ore experienced sustained growth over ten consecutive years. In 2011, iron ore exports from developing countries reached 49.5% of the worldwide export. The report projected that iron ore consumption in 2012 will reach 2 billion tons and in 2013 will increase to 2.08 billion tons. The development of the price of minerals particularly iron ore based on data from the International Monetary Fund showed a trend that continues to rise, but from April to June 2012 tended to experience a significant decline, even in very large decline in August 2012 reached 15.74%.