Parent Category: Press Room

Global Iron Ore Demand Set to Double to 3.5 Billion Tonnes per Year by 2030

Global iron ore demand is set to double to around 3.5 billion tonnes per year by 2030, with Chinese appetite for the commodity continuing to drive the market, albeit at a slower pace than during the last decade.

Recent investigations by Raw Materials Group also reveal interesting developments for two of the major players in the iron ore market. The Chinese for example, continue to face hurdles in their quest to gain control of 50% of imports, with Foreign Direct Investments in Africa and elsewhere proving more difficult than anticipated.

On the Sub-continent, iron ore exports may see a decline as a result of the formidable growth planned by Indian steel companies. Debate continues between Indian iron ore miners claiming there are enough iron ore resources for both increased domestic steel production and exports, and the steel lobby which foresees a different outcome.

Raw Materials Group Chairman, Professor Magnus Ericsson explored these themes when he presented “Chinese and Indian Iron Ore Production - Determining the World Market Balance” at the 15th Annual Global Iron Ore & Steel Forecast Conference in Perth, Australia on Wednesday March 21, 2012.

The Annual Global Iron Ore & Steel Forecast Conference is Australia’s premier gathering for the region’s iron ore and steel executives. The event is key for obtaining balanced assessments of the iron ore marketplace from a well-researched, leading forum of industry experts.