Theme of the lecture № 5. World markets of ores, non-ferrous and ferrous metals

Thesis:

Iron ores are rocks and minerals from which metallic iron can be economically extracted. The ores are usually rich in iron oxides and vary in color from dark grey, bright yellow, deep purple, to rusty red. The iron itself is usually found in the form of magnetite (Fe₃O₄), hematite (Fe₂O₃), goethite (FeO(OH)), limonite (FeO(OH).n(H₂O)) or siderite (FeCO₃).

Ores carrying very high quantities of hematite or magnetite (greater than ~60% iron) are known as "natural ore" or "direct shipping ore", meaning they can be fed directly into iron-making blast furnaces. Most reserves of such ore have now been depleted. Iron ore is the raw material used to make pig iron, which is one of the main raw materials to make steel. 98% of the mined iron ore is used to make steel. Indeed, it has been argued that iron ore is "more integral to the global economy than any other commodity, except perhaps oil". Over the last 40 years, iron ore prices have been decided in closed-door negotiations between the small handful of miners and steelmakers which dominate both spot and contract markets. Traditionally, the first deal reached between these two groups sets a benchmark to be followed by the rest of the industry.

Copper is a chemical element with the symbol Cu (from Latin: cuprum) and atomic number 29. It is a ductile metal with very high thermal andelectrical conductivity. Pure copper is soft and malleable; a freshly exposed surface has a reddish-orange color. It is used as a conductor of heat and electricity, a building material, and a constituent of various metal alloys.

Aluminium (or aluminum) is a chemical element in the boron group with symbol Al and atomic number 13. It is silvery white, and it is not soluble in water under normal circumstances.

Aluminium is the third most abundant element (after oxygen and silicon), and the most abundant metal, in the Earth's crust. It makes up about 8% by weight of the Earth's solid surface. Aluminium metal is so chemically reactive that native specimens are rare and limited to extreme reducingenvironments. Instead, it is found combined in over 270 different minerals. The chief ore of aluminium is bauxite.

Gold is a dense, soft, shiny, malleable and ductile metal. It is a chemical element with the symbol Au (aurum in Latin, meaning glow of sunrise) andatomic number 79.

It has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. Chemically, gold is atransition metal and a group 11 element. It is one of the least reactive chemical elements solid under standard conditions. The metal therefore occurs often in free elemental (native) form, as nuggets or grains in rocks, in veins and in alluvial deposits. Less commonly, it occurs in minerals as gold compounds, usually with tellurium.

A precious metal is a rare, naturally occurring metallic chemical element of high economic value. Chemically, the precious metals are less reactivethan most elements. They are usually ductile and have a high lustre. Historically, precious metals were important as currency but are now regarded mainly as investment and industrial commodities. Gold, silver, platinum, and palladium each have an ISO 4217 currency code.

Literature: 1-36.