Iron Ore
62% Fe+ Magnetite/HematiteWe are direct selling iron ore agents with JV agreements in place with numerous miners, providing us supply capacity circa 1,000,000/Mt per month.
Product Details
Iron Ore
Iron ore is the primary raw material used to make steel. Steel is strong, long-lasting and cost-efficient – making it perfect for everything from cars, to bridges and skyscrapers.
Global economic growth is the primary factor that drives its supply and demand. When economies are growing, the need for steel in construction increases which drives the price up.
Our product is usually traded using the S&P Global Platts Price index with a discount to the price for the product.
Iron Ore Process
Iron Ore Specifications
CLICK on one of the tabs for specific details.
Fe Content 62% min
Magnetite and Hematite
Fines and Lumps
MOQ – 100,000MT per month x 12
Fe Content 62% min, average is 64%
Origin: Mexico, Chile, Peru and South Africa
3,000,000/Mt per month
INCOTERMS 2020: FOB-CFR-CIF
Any world port
Quality and Quantity inspection by
Société Générale de Surveillance (SGS)
Payment: 95% LC or SBLC at Sellers Loading Port, 5% balance at Buyers Destination Port
Iron Ore Chemical Composition
< 0.02%
< 0.09%
< 0.08%
< 4%
< 0.01%
< 0.02%
< 7%
< 0.05%
< 0.01%
< 1.5%
Iron Ore Terms of Trade
Supply Agreements
Product Price
Our price is determined by global supply and demand for ongoing supply agreements using PLATTS minus discount and higher product volumes warrant marginally reduced prices.
Payment Terms
We act according to ICC responsible trade practice engaging bank to bank payment terms by 100% Letter of Credit LC (MT700) at sight, Performance Bond and MT103 payment upon satisfaction of LC terms.
Inspection
Quality and Quantity is final according to Certificate of Inspection given by Société Générale de Surveillance (SGS) on inspection at the Loading Port and a CIQ Report is given at the Discharge Port.
Shipment Options
We use INCOTERMS 2020
Shipping terms: FOB-CFR-CIF
Destination: any world port
Loading Port: Lazaro Cardenas or Manzanillo, Mexico
Insurance: 110% shipment value
Product Ownership
Once the transfer of payment is received we will issue the Certificate of Transfer of Ownership to the Buyer for each and every shipment throughout the supply agreement term.
Iron Ore Logistics
Port of Manzanillo
Port of Lazaro Cardenas
Port of Callao, Peru
Port of Valparaíso - Chile
Iron Ore Facts
5% of Earth
Iron ore is the most common element in the world and makes up close to 5% of the Earth’s crust.
Steel Making
Exporters
Steel
It takes around 1.6 tons of iron ore to produce one ton of steel.
Global Production
Highly Used
We use 20 times more iron (in the form of steel) than all other metals put together.