Key Market Indicators
China's iron ore exports are projected to reach approximately $1.24 billion by 2028, up from around $960 million in 2023. This marks an average annual growth rate of 4%. Since 1997, the country's supply has increased by an average of 3.9% per year. In 2023, China ranked 10th in iron ore exports, with Bahrain surpassing it at the same dollar value of $961 million. Leading the global ranking were Brazil, Canada, and South Africa, occupying the second, third, and fourth positions respectively. On the import side, China's iron ore imports are expected to hit roughly $88.3 billion by 2028, rising from about $81.5 billion in 2023. This represents an average annual growth rate of 1.3%. Since 1997, China's demand for iron ore has grown by an average of 1.7% annually. Japan, South Korea, and Germany followed China in the import rankings, taking the second, third, and fourth spots respectively.