Commodity 1Iron Ore
For Industrial and Commercial Uses
Iron ore is a rock or mineral from which iron can be extracted, used to make pig iron — 98% of the iron ore used goes into iron production. Ore deposits fall mainly into four categories: massive hematite, magnetite, titanomagnetite, and pisolitic ironstone. Hematite typically contains 60–70% iron, magnetite 65–75%, titanomagnetite 50–65%, and pisolitic ironstone 40–50%.
The most common mineral found in Nigeria is hematite, a reddish-brown iron oxide mineral with the chemical formula Fe₂O₃. Hematite ores in Nigeria usually contain between 50% and 70% iron, making them ideal for iron ore production. Nigeria has the 10th largest iron reserves in the world, estimated at 2.7 billion tons.
Demand for steel is expected to grow worldwide. According to the World Steel Association, global steel production is expected to reach 1.8 billion tons in 2025, up from 1.6 billion tons in 2020. The global iron market is expected to grow at a CAGR of 4.5% between 2022 and 2027.
| Element | Chemical Symbol | Typical Concentration (% by weight) |
|---|---|---|
| Iron | Fe | 65–75 |
| Silicon dioxide | SiO₂ | 0–25 |
| Aluminum oxide | Al₂O₃ | 0–15 |
| Titanium dioxide | TiO₂ | 0–5 |
| Manganese oxide | MnO | 0–3 |
| Phosphorus pentoxide | P₂O₅ | 0–0.1 |
Composition varies slightly based on source and region of Nigeria collected. We encourage buyers to request a free sample for composition analysis. Samples are free of cost, but buyers should arrange pickup with a courier service of their choice.
Why Buy Iron Ore From Commodity 1?
Nigeria has not yet fully exploited its iron ore resources. In 2021, Nigeria produced only about 2 million tons of iron ore — a small fraction of its reserves. This is an untapped, nascent market with competitive prices, and the increase in global steel production will drive demand for iron ore, growing at a projected CAGR of 4.5% between 2022 and 2027.
Commodity 1 provides iron ore directly from the mine site to the global market. There are no middlemen involved, only our staff on the ground. We strive to organize smooth and transparent transactions and believe in building long-term relationships with our customers.
Packaging & Delivery
| Detail | Value |
|---|---|
| Packaging | Lumps |
| Port | Lagos Apapa Port, Nigeria |
| Bags | 50 kg |
| Container | 20 ft |
| Quantity | 20–1,000 MT per month |
| Lead time | 30 days |
| Shipload | Available every four months |
Physical & Chemical Properties
| Property | Value |
|---|---|
| Chemical formula | Fe₂O₃ |
| Appearance | Reddish-brown, metallic |
| Luster | Metallic |
| Streak | Reddish-brown |
| Mohs hardness | 6–6.5 |
| Specific gravity | 5.26 g/cm³ |
| Melting point | 1535°C |
| Boiling point | 2750°C |
| Thermal conductivity | 8.0 W/m·K |
| Electrical conductivity | 15.0 S/m |
| Occurrence | Igneous, sedimentary, and metamorphic rocks |
Industrial Use of Iron
| Industry | Application |
|---|---|
| Steelmaking | The primary use of iron ore; steel is used in construction, infrastructure, transportation, and manufacturing |
| Foundry | Production of cast iron for pipes, valves, and industrial castings |
| Metallurgy | Iron powders (welding, bearings, medical implants) and iron oxides (pigments, catalysts, magnets) |
| Chemicals | Ferric chloride (disinfectant, water treatment) and ferrous sulfate (fertilizer, rust inhibitor) |
| Construction | Used in bricks, concrete, and mortar |
| Other industries | Mining explosives, power generation boilers and turbines, electronics magnets and semiconductors |