The enormous production of steel has required the importation of large
quantities of iron ore of pure quality from Spain, Algeria, and
elsewhere, into this country, France, Belgium, Germany, and the United
States; and these supplies have contributed greatly to the reduction
in the price of steel to which I have referred, and what is, perhaps,
of equal importance, they have prevented the great fluctuations of
price which formerly prevailed. In 1869 this trade was in its infancy,
and almost confined to the importation of the Algerian ores of Mokta
el Hadid into France, while in 1882 Bilbao alone exported 3,700,000
tons of hematite ores to various countries to which the exports from
the south of Spain, Algeria, Elba, Greece, and other countries have to
be added. Great Britain alone imported 3,000,000 tons of high class,
including manganiferous iron ores last year.