Overview This page contains the latest trade data of Iron Reductions. In 2022, Iron Reductions were the world's 535th most traded product, with a total trade of $5.45B. Between 2021 and 2022 the exports of Iron Reductions decreased by -18.8%, from $6.71B to $5.45B. Trade in Iron Reductions represent 0.023% of total world trade.
Iron Reductions are a part of Iron & steel. They include Ferrous products from direct reduction of iron ore and Spongy iron lumps, pellets, etc > 99.94% pure.
Exports In 2022 the top exporters of Iron Reductions were Russia ($1.26B), Trinidad and Tobago ($872M), Qatar ($625M), United States ($565M), and India ($473M).
Imports In 2022 the top importers of Iron Reductions were United States ($885M), Kuwait ($767M), Italy ($415M), China ($380M), and South Korea ($272M).
Ranking Iron Reductions ranks 842nd in the Product Complexity Index (PCI).
Description Ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms are used to make steel. Iron having a minimum purity by weight of 99.94% is used to make stainless steel.