Name: Australia iron ore supply summary
Brand: Wood Mackenzie
SKU: 154332
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Author: Wood Mackenzie

Country Report 24 December 2024

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In 2024, Australia maintained its dominance in the iron ore market with 50% margins despite a slight expected decline in production. Stable supply from major producers – Australia, Brazil, and India – combined with mixed demand from Chinese steelmakers contributed to stable iron ore prices for regional suppliers. Australian production saw a modest increase of 0.5%, achieving 945 Mt in 2023, and a slight decline is expected to 937 Mt in 2024. Trade relations with China improved, highlighted by joint projects like the Ashburton Hub and Western Range mine. These developments solidify Australia’s position as a global leader in iron ore production.</div>
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        Capital costs
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         <li class="list__item push-quarter--bottom">Capital costs</li><li class="list__item push-quarter--bottom">Average operating margin (US$/tonne)</li><li class="list__item push-quarter--bottom">2024 Australia iron ore CO2e emission curve - by product</li>
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            <li class="list__item push-quarter--bottom">2024 iron ore seaborne export CO2e emission curve (Scope 1&2)</li><li class="list__item push-quarter--bottom">Production by key company</li><li class="list__item push-quarter--bottom">Proportions of fines, lump, concentrate and pellets</li><li class="list__item push-quarter--bottom">Costed production by status</li><li class="list__item push-quarter--bottom">Attributable marketable production by company</li><li class="list__item push-quarter--bottom">Seaborne iron ore cash costs by operator 2024 (CFR China, unadjusted for quality)</li><li class="list__item push-quarter--bottom">Port export capacity</li><li class="list__item push-quarter--bottom">Pilbara Region</li><li class="list__item push-quarter--bottom">Other Western Australia</li>
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<p class="font-regular" >Australia iron ore supply summary</p>
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<p class="gamma store_landing__body off-black font-regular push-half--bottom">Lower prices, falling demand and competition from seaborne imports will cause Chinese iron ore supply to decline over the long term.</p>

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