Iron ore: 5 things to look for in 2025

The global iron ore markets will see fluctuating growth trends in 2025, driven by policy volatility in China. The Chinese government's bond-financed expenditure is expected to impact steel demand after the Chinese New Year. However, will this recovery be fleeting? On the supply side, iron ore miners had a relatively uneventful year in terms of shipments. Looking ahead, miners’ investments will aim to strengthen product portfolios, decarbonise mine sites, support new technologies, and leverage capabilities to maintain growth. The challenge of maintaining quality has become more pronounced as Australian miners' share of low-grade iron ore increases. In the current ESG environment, replacing mines to sustain record iron ore production levels is increasingly difficult. Additionally, will the threat of additional volume from Guinea's Simandou project create doubts about miners' strategies?