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The United States has a long history of being one of the world's largest importers and exporters of iron ore. With its vast resources and advanced technology, the US plays a crucial role in the global iron ore trade. As we approach the year 2024, let's take a look at the best iron ore importer and exporter in the US.
The US is the third-largest producer of iron ore in the world, with an estimated production of 48 million metric tons in 2020. However, due to the high demand for iron ore in the country, the US also relies heavily on imports. In 2020, the US imported approximately 21 million metric tons of iron ore, making it the world's fourth-largest iron ore importer.
When it comes to iron ore imports, the US is heavily dependent on its neighbor, Canada. In 2020, Canada accounted for over 60% of the US's total iron ore imports. The close geographical proximity between the two countries, along with Canada's rich iron ore deposits, makes it a natural trading partner for the US. Other major sources of iron ore imports for the US include Brazil, Sweden, and Norway.
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