How to Invest in Iron Stocks
Iron is vital to the global economy because it's an essential ingredient in making steel. Overall, about 98% of the iron mined each year goes into the production of steel. That metal is a crucial building block of global infrastructure like bridges, buildings, and pipelines. It's also in a variety of other items like cars, ships, appliances, tools, and wind turbines. In 2018, about 51% of the steel produced went into buildings and bridges, with another 12% used to make automobiles.
Steel's vital role in building the backbone of the global economy is why iron is the mining industry's largest metals market by volume as industries demand more of it than copper or aluminum. Overall, iron typically ranks as the third biggest commodities market by dollar value behind oil and gold.
Given the importance of iron to the global economy, it's an essential metal for investors to understand. This guide will walk them through the key things they need to know about this sector.
Source Fool.com
