Proud of our Iron!

Since the low of 2015, when the price of iron dropped to just under US$40 per tonne, this commodity has been slowly recovering, reaching slightly more than US$120 in July 2019 and ending the year at a little above US$90 per tonne. While analysts predicted that prices would remain stable in 2020 due to anticipated demand from China, the crisis caused by the coronavirus outbreak has cast a shadow over the economic forecasts for iron.

Nevertheless, the solid performance of the iron sector in recent years has benefited the North Shore, the cradle of the iron industry in Quebec, where four iron mines are currently in operation, and Rio Tinto Fer et Titane (RTFT) mines ilmenite, a mineral composed of iron oxide and titanium.