Iron ore is used almost exclusively for steel production. Until recently the market was mostly contract-based, with fixed-price contracts led by the major producers. The move towards free market pricing has increased competition, but also introduced volatility for smaller concerns.
Historically, most iron ore trading took place in Europe and the US. Today, the customer base has moved eastward. PSI began trading actively in 2011. Adding iron ore trading to our existing capabilities has allowed us to grow volumes rapidly.
We trade with the major producers in key exporting countries like Brazil. We also buy ore further afield from smaller mining concerns, in places like India, South Africa, Mexico, Chile and South East Asia.

• PSI trade the whole spectrum of iron ore products and grades. We deal mainly with fine, low-grade and high-grade lump, pellet feed and pellets.
• Much of our trading activity is with smaller and mid-tier mining concerns. We rarely take delivery of plain vanilla product. Finding the right buyer for particular grades of stock is a key skill.
• We rely on our extensive international network. We are particularly well represented in China, where our sales and marketing teams have built up strong contacts with the major Chinese trading houses.