Iron is the backbone of industrial civilisation, transformed into steel to build infrastructure, machinery and cities worldwide. Extracted mainly in Australia, Brazil and China, iron ore feeds blast furnaces and electric steel plants supplying global construction and manufacturing. Steel demand closely follows economic cycles and energy prices, making the market highly sensitive to global growth trends. Today, the industry faces a major transformation as it seeks to reduce carbon emissions while meeting rising demand. Innovation, recycling and low-carbon steel technologies are becoming essential. Read more to understand how iron and steel drive global development, why China dominates the market, and how the sector is adapting to climate and sustainability pressures.