According to a report from GlobalData, the global iron ore output totaled 2.2 billion tons in 2020, decreasing by 3% compared to the previous year.

The report showed that the global iron ore output during the 2021-2025 period was expected to rise at a compound annual growth rate (CAGR) of 3.7%, reaching around 2.66 billion tons in 2025.

Among them, the increase was mainly from Brazil (6.2%), South Africa (4.1%), Australia (3.2%), and India (2.9%).

Global iron ore output was predicted to increase by 5.1% to roughly 2.3 million tons in 2021.