Mineral Many sulfide minerals are economically important as metal ores; examples include sphalerite (ZnS), an ore of zinc, galena (PbS), an ore of lead, cinnabar (HgS), an ore of mercury, and molybdenite (MoS, an ore of molybdenum. Pyrite (FeS), is the most commonly occurring sulfide, and can be found in most geological environments. It is not, however, an ore of iron, but can be instead oxidized to produce sulfuric acid. Related to the sulfides are the rare sulfosalts, in which a metallic element is bonded to sulfur and a semimetal such as antimony, arsenic, or bismuth. Like the sulfides, sulfosalts are
Iron ore largest steel producing country. It is also the largest importer, buying 52% of the seaborne trade in iron ore in 2004. China is followed by Japan and Korea, which consume a significant amount of raw iron ore and metallurgical coal. In 2006, China produced 588 million tons of iron ore, with an annual growth of 38%. Over the last 40 years, iron ore prices have been decided in closed-door negotiations between the small handful of miners and steelmakers which dominate both spot and contract markets. Traditionally, the first deal reached between these two groups sets a "benchmark" to be followed