India’s Iron Ore Imports Hit Six-Year High In 2025

05 Dec 2025 CW Team

Imports more than doubled to over 10 million tonnes in the first 10 months of 2025 compared with the same period last year, Lalit Ladkat, senior analyst at London-based CRU Group, told Reuters. Between January and October, JSW Steel — India’s largest steel producer by capacity — emerged as the country’s top importer, analysts said.

Average annual imports between 2019 and 2024 stood at 4.3 million tonnes. In 2025, demand outpaced domestic production, and shortages of higher-grade ore became a significant concern. Ladkat noted that delays in commencing operations at auctioned mines contributed to sluggish supply growth.

This contrasts with recent assurances from the Ministry of Steel, whose top civil servant last month dismissed concerns about domestic shortages.

Lower import prices, along with the logistical advantage for coastal steel plants such as JSW Steel’s Maharashtra unit, also boosted overseas shipments, analysts and officials said. India has been sourcing most of its imported ore from Brazil, Oman and Australia.

Brazilian miner Vale is preparing to meet India’s rising demand, anticipating that the country could double its steel production by the end of the decade, CEO Gustavo Pimenta told Reuters.

Heavy rainfall in Odisha — which accounts for nearly 55 per cent of India’s iron ore output — curbed production this year, commodities consultancy BigMint said. It expects imports to exceed 11–12 million tonnes in FY26 and remain elevated unless domestic output or captive sourcing improves.

India, the world’s second-largest crude steel producer, saw iron ore production rise to 289 million tonnes in FY25 from 277 million tonnes the previous year, government data showed. Earlier this year, the Government urged steelmakers to acquire iron ore mines overseas amid concerns over slow progress in greenfield mine development.

India’s iron ore imports have climbed to a six-year high as steelmakers increased overseas purchases to offset shortages of high-grade ore and benefit from softer global prices, according to analysts and trade officials. Imports more than doubled to over 10 million tonnes in the first 10 months of 2025 compared with the same period last year, Lalit Ladkat, senior analyst at London-based CRU Group, told Reuters. Between January and October, JSW Steel — India’s largest steel producer by capacity — emerged as the country’s top importer, analysts said. Average annual imports between 2019 and 2024 stood at 4.3 million tonnes. In 2025, demand outpaced domestic production, and shortages of higher-grade ore became a significant concern. Ladkat noted that delays in commencing operations at auctioned mines contributed to sluggish supply growth. This contrasts with recent assurances from the Ministry of Steel, whose top civil servant last month dismissed concerns about domestic shortages. Lower import prices, along with the logistical advantage for coastal steel plants such as JSW Steel’s Maharashtra unit, also boosted overseas shipments, analysts and officials said. India has been sourcing most of its imported ore from Brazil, Oman and Australia. Brazilian miner Vale is preparing to meet India’s rising demand, anticipating that the country could double its steel production by the end of the decade, CEO Gustavo Pimenta told Reuters. Heavy rainfall in Odisha — which accounts for nearly 55 per cent of India’s iron ore output — curbed production this year, commodities consultancy BigMint said. It expects imports to exceed 11–12 million tonnes in FY26 and remain elevated unless domestic output or captive sourcing improves. India, the world’s second-largest crude steel producer, saw iron ore production rise to 289 million tonnes in FY25 from 277 million tonnes the previous year, government data showed. Earlier this year, the Government urged steelmakers to acquire iron ore mines overseas amid concerns over slow progress in greenfield mine development.

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