NEW DELHI, Dec 3 : India’s iron ore imports hit a six-year excessive this yr as metal mills stepped up abroad purchases to beat shortages of high-grade ore and make the most of decrease world costs for the steelmaking uncooked materials, analysts and commerce officers mentioned.
Iron ore imports greater than doubled to over 10 million metric tons within the first 10 months of 2025 from a yr earlier, Lalit Ladkat, senior analyst at London-headquartered CRU Group, instructed Reuters.
Between January and October, JSW Steel, the nation’s greatest steelmaker by capability, emerged as the highest purchaser of iron ore from abroad suppliers, analysts and officers mentioned.
Average imports throughout 2019–2024 have been 4.3 million metric tons a yr, Ladkat mentioned.
“In 2025, demand outpaced the domestic production and availability of higher-grade ores was a big concern,” Ladkat mentioned, including that delays in beginning manufacturing at already auctioned mines have been among the many causes provide progress was slowing.
Last month, the highest civil servant on the Ministry of Steel dominated out any scarcity of iron ore within the nation.
Low import costs, together with the feasibility of importing for metal vegetation close to ports, akin to JSW Steel’s plant within the western state of Maharashtra, helped enhance shipments, based on a senior authorities official and analysts.
India has been importing iron ore primarily from Brazil, Oman and Australia.
Brazilian miner Vale is making ready to fulfill rising iron ore demand from India, which may double its metal manufacturing by the tip of the last decade, CEO Gustavo Pimenta instructed Reuters final month.
This yr, heavy rainfall within the japanese state of Odisha, which accounts for practically 55 per cent of India’s whole iron ore output, led to decrease manufacturing, based on commodities consultancy BigMint.
“Imports may exceed 11–12 million metric tons in FY26 and could remain elevated next year as well if domestic production or captive sourcing does not improve,” BigMint mentioned, referring to the fiscal yr to March 2026.
Iron ore output in India, additionally the world’s second-biggest crude metal producer, rose to 289 million metric tons in fiscal 2025, from 277 million metric tons a yr earlier, based on authorities information.
Earlier this yr, the federal government urged metal mills to amass iron ore mines abroad, whereas expressing concern over gradual improvement in greenfield iron ore mines.