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From: Dan Nied
Location: WI
Email: CanadianMiner@Boatnerd.com
Remote Name: 68.117.96.159
Date: 07/31/04
Time: 01:28:59 PM
The main difference in cost of taconite pellets compared to iron nuggets is not because of the percent iron content but due to the type of iron in each. A taconite pellet is roughly 65% iron oxide and therefore needs to be smelted in a blast furnace to form metallic iron which can then be converted into steel. The iron nuggets start off just like taconite pellets but are processed in a special furnace at the nugget plant converting them into roughly 96% metallic iron. This allows the nuggets to be used as a scrap substitute in electric furnaces in minimills, the basic oxygen furnaces at integrated mills, or in other foundry applications. It’s for this reason that the nuggets will sell at a price similar to the highest grades of scrap steel as compared to taconite pellets lower cost. Dan Nied
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