According to GlobalData, Russia is the world’s fifth-largest producer of iron ore in 2022, with output down by 16.3% on 2021. Over the five years to 2021, production from Russia increased by a CAGR of 1% and is expected to rise by a CAGR of 4% between 2022 and 2026. GlobalData uses proprietary data and analytics to provide a complete picture of this market in its Global Iron Ore Mining to 2026 report. Buy the report here.
Russia accounts for 4% of global production, with the largest producers being Australia, Brazil, India and China. Exports of iron ore from Russia declined by 23.48% in 2022 over 2021, with the highest share being exported to China. Russia’s iron ore exports are expected to grow at a CAGR of 7% between 2022 and 2026.
Leading producers of iron ore in Russia are Severstal and Evraz. During 2020-2021, Severstal's output was up by 0.67%, Evraz's output increased by 1%.
For more detailed analysis of global iron ore mining, buy the report here.
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