Global iron ore production set for modest growth during 2019-2028: Research

Iron ore supply growth woul be primarily driven by India, Brazil where major miner Vale is set to expand output with its new mine

Global iron ore production will modestly grow to 3,119 million tonne by 2028 from 2,850 million in 2019, Fitch Solutions Macro Research said in a report today. This represents an average annual growth of 0.5 per cent during 2019-2028, which is a significant slowdown from an average growth of 2.9 per cent during 2009-2018, it said.

The supply growth would be primarily driven by India and Brazil where major miner Vale is set to expand output with its new mine. On the other hand, miners in China, which operate at the higher end of the iron ore cost curve will