India's iron ore imports set to hit 7-year high in 2025–2026
The Hindu
India's iron ore imports are projected to reach a seven-year high in 2025-2026, driven by high-grade ore demand.
India’s imports of iron ore, a key raw material in steelmaking, are set to rise to a seven-year high in the fiscal year ending on March 31, driven by a shortage of high-grade ore and demand from JSW Steel, analysts and industry executives said.
Overall imports are likely to reach 12 million to 14 million metric tons in 2025-26, more than doubling from a year earlier, analysts and trade officials said.
JSW Steel, India’s biggest steelmaker by capacity, was a key driver of iron ore imports for its mills in the western State of Maharashtra and the southern State of Karnataka, said Lalit Ladkat, a senior analyst at London-based consultancy CRU.
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The bulk of India’s iron ore imports in the fiscal year originated from Brazil and Oman, which together accounted for about 70% of total shipments, Ladkat said.
Iron ore output in India, the world’s second-largest crude steel producer, is expected to reach 305 million tons in the 2025–26 fiscal year, up from 289 million metric tons a year earlier, according to commodities consultancy BigMint.
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