India's Iron Ore Imports Hit a 7-Year High in FY 2025/26, Estimated Between 12-14 Million Tonnes

en.Wedoany.com Reported, According to Mining Weekly, India's iron ore imports reached a seven-year high during the 2025/26 fiscal year (April 1, 2025, to March 31, 2026). Analysts and industry executives attribute this primarily to a shortage of high-grade ore supply and strong demand from JSW Steel. Iron ore imports for this fiscal year are estimated to be between 12 and 14 million tonnes, doubling year-on-year.

Lalit Ladkat, Senior Analyst at Commodities Research Unit (CRU), stated, "The import growth is mainly driven by robust demand from JSW, India's largest steelmaker, in Maharashtra and Karnataka." About 70% of India's iron ore imports come from Brazil and Oman, with Reuters reporting that BHP's Jimblebar iron ore fines are being sold to India at record prices.

Data from commodity consulting firm BigMine shows that India, the world's second-largest crude steel producer, is expected to produce 305 million tonnes of iron ore this fiscal year, up from 289 million tonnes the previous year. Meanwhile, iron ore exports are projected at 29 million tonnes, a decrease of 2.5 million tonnes from the previous year, with 85% destined for China. India primarily exports low-grade ore, which domestic steel producers typically do not use.

Sumit Kinkinwala, Vice President at ICRA Ratings, said that as mines expand mineral mining, India's iron ore production will increase in the next fiscal year, but imports will still depend on grade requirements and steel plant supply. Additionally, imports of iron ore pellets are expected to decrease. BigMine noted, "Imports of pellets from Iran will decline due to geopolitical tensions and trade uncertainties, while increased domestic supply will also curb imports." In the first 11 months of this fiscal year, India's pellet imports stood at 1.88 million tonnes, six times the volume from a year earlier.

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