Key Market Indicators
American iron ore imports are projected to rise to approximately $669 million by 2028, up from around $650 million in 2023. This marks a modest year-on-year growth rate of 0.5%. Despite this increase, it's noteworthy that American demand for iron ore has remained unchanged on an annual basis since 1996. On the export front, American iron ore shipments are expected to grow, reaching roughly $967 million by 2028 from about $936 million in 2023. This also represents a year-on-year growth rate of 0.5%. However, American iron ore supply has seen a slight decline over the years, with a 0.9% annual decrease since 1996.
