Iron ore production in China has exhibited fluctuating trends over the past decade. Between 2013 and 2016, there was a noticeable decline, with production dropping from 259 million metric tons to 219 million metric tons. Recovery began in 2017, with incremental increases leading to a production level of 239.81 million metric tons in 2023. The year-on-year variation over the last two years showed moderate growth, with 0.73% in 2022 and 0.71% in 2023. The last five years indicated a compound annual growth rate (CAGR) of 0.76%, suggesting mild but consistent growth. Forecasts predict a continued uptick, reaching 248.70 million metric tons by 2028, reflecting a forecasted 5-year CAGR of 0.57% and an overall growth rate of 2.9% from 2023.
Future trends to watch for:
- Tech advancements in mining operations increasing efficiency and output.
- Environmental regulations affecting production capacity.
- Shifts in global demand impacting supply dynamics.
