6. Conclusions

From this study of the evolution of iron ore production and markets, three important conclusions seem to be possible:

• There are growing differences between the iron ore and steel industries. This can be explained by two parameters:

  • the steel industry is typically a producer of intermediate goods, and is therefore "squeezed" between its raw materials suppliers and its customers.

    Once a strong position, it has become more fragile, and to free themselves from these constraints, several steel companies are striving to integrate, i.e. to acquire, in one way or another (purchase, shareholding, etc.), iron ore mines;

  • mining companies, which have to deal with the problems of exploiting non-renewable natural resources, have a very different...