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| India Iron Ore |
Imports Surge to Address Domestic Shortfall
India increased iron ore imports to over 10 million tons in January-October 2025, marking a six-year high. Domestic production could not meet demand, while high-grade ore availability remained limited. Meanwhile, steel mills turned to international markets to secure quality ore at competitive prices. As a result, imports more than doubled compared to the same period in 2024, highlighting supply pressures.
Key Drivers and Source Countries
Heavy rainfall in Odisha reduced domestic iron ore output, while delays at newly auctioned mines further constrained supply. JSW Steel led import volumes, sourcing mainly from Brazil, Oman, and Australia. Therefore, Indian mills leveraged port proximity and favorable global pricing. In contrast, government officials emphasized that the overall raw material availability remains adequate despite rising imports.
Outlook and Policy Measures
India plans a 30% export duty on low-grade iron ore from October 2025 to prioritize domestic supply. Analysts forecast imports could exceed 11–12 million tons in the 2025/2026 fiscal year. Consequently, steel producers must balance domestic procurement, imports, and price fluctuations to maintain operational stability and secure high-quality feedstock for production.
ScrapInsight Commentary
India’s surge in iron ore imports reflects high-grade material scarcity and domestic supply constraints. Export duty policies may stabilize local availability and prices. Steelmakers should monitor import trends and domestic production recovery to optimize procurement strategies.
