Country Report
Global iron ore supply summary 2025
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Iron ore producers are set to maintain strong margins in 2025, supported by resilient pricing and disciplined cost structures. Capital investment is shifting from volume growth to quality enhancement and emissions reduction. Global average ore grade is projected at 62.6% Fe, with Brazil and Canada leading the premium segment. Australia remains the largest supplier by volume but delivers lower-grade ores with higher contaminants. As market preferences evolve, high-grade feedstock is gaining strategic relevance, though premium pricing has not consolidated.
Table of contents
-
Key producers
- Vale
- Rio Tinto
- BHP
- Fortescue
-
China
- 2025 Chinese iron ore mines cost curve (62% Fe fines equivalent)
- Chinese iron ore production forecast
- 2025 reserves split
- 2025 quality and quantity bubble graph by country
- Big four 2025 quality and quantity bubble graph
-
Operating costs
- Average FOB cash cost 2009 to 2030 (US$/t, nominal to 2025 and real thereafter)
- Delivered costs
- Capital costs
Tables and charts
This report includes the following images and tables:
What's included
This report contains:
Other reports you may be interested in
Country Report
India iron ore supply summary
A comprehensive overview of the Indian iron ore industry covering all essential topics, including production, quality, and infrastructure.
$6,750
Country Report
Brazilian supply summary 2025
Brazil's iron ore industry strategic inflection point. Success demands operational flexibility and agility, over pure scale efficiency.
$6,750
Insight
Value-in-use iron ore costs Q1 2026
Q1 2026 iron ore value-in-use adjusted costs are up 5.4% compared to last quarter, and margins are below 40% in Q1 2026.
$5,000
