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As smelters weigh cost, Indonesia's ore export ban may backfire. To recover that investment, even without making a profit, the price of alumina made from bauxite ore needs to be "well over" 400 a tonne, said Michael Komesaroff, principal consultant at Urandaline Investments, noting alumina trades now at 325350 a tonne.

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This is a list of countries by iron ore production based on Geological Survey data. The mine production estimates for China are estimated from the National Bureau of Statistics China's crude ore statistics, rather than usable ore as reported for the other countries.

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Iron ore price: It's all about grade now. A more recent development is the widening gap between different quality fines: 65% fines at Qingdao fetches 103 while Tianjin 58% goes for 26 a tonne less. The discount to 62% has doubled from around 8 at the start of the year to 16 today.