Key Market Indicators
Iran's iron ore export market is projected to decline to approximately $960 million by 2028, down from around $992 million in 2023. This represents a year-on-year compound annual growth rate (CAGR) decline of 0.5%. Since 2002, Iran's iron ore supply has seen a year-on-year decrease of 0.6%. On the import side, Iran's iron ore imports plummeted dramatically from nearly $7.5 million in 2016 to just $20 in 2017, marking a 100% drop within a year. Over the long term, since 2002, Iranian demand for imported iron ore has decreased by a staggering 93.8% year on year.
