Global Iron Ore Market Trends
Iron is the most used industrial metal in the world, with steel production being the key driver of global iron ore demand.
Mining Technology keeps track of the global iron ore market by observing iron ore price trends and analysing country-wise iron ore production, consumption, and export and import data. The performance of major iron ore producers and mining projects around the world is also monitored.
Global iron ore production is recovering after a 3% decline in output to 2.19 billion tonnes (Bt) in 2020. Iron ore production is expected to rise steadily to reach 2.7Bt by 2025, according to GlobalData’s estimates.