According to the preliminary data released by the US Geological Survey, estimated global iron ore production in 2021 was 2,600 million tonnes of usable ore, which is 5.3% higher than a year ago. USGS said that increases in production, shipments, and trade of iron ore in 2021 were due to recovery from the effects of the global COVID-19 pandemic, which lowered steel production and consumption globally in 2020.With 900 million tonnes of usable iron ore mined in 2021, Australia is the largest iron ore producing country, followed by Brazil at 380 million tonnes, China at 360 million tonnes and India at 240 million tonnes. According to the report, overall, global prices trended upward to an average unit value of USD 178.27 per tonne in the first 9 months of 2021, a 64% increase from the 2020 annual average of USD 108.92 per tonne and a 90% increase from the 2019 annual average of UD 93.85 per tonne.
According to the preliminary data released by the US Geological Survey, estimated global iron ore production in 2021 was 2,600 million tonnes of usable ore, which is 5.3% higher than a year ago. USGS said that increases in production, shipments, and trade of iron ore in 2021 were due to recovery from the effects of the global COVID-19 pandemic, which lowered steel production and consumption globally in 2020.With 900 million tonnes of usable iron ore mined in 2021, Australia is the largest iron ore producing country, followed by Brazil at 380 million tonnes, China at 360 million tonnes and India at 240 million tonnes. According to the report, overall, global prices trended upward to an average unit value of USD 178.27 per tonne in the first 9 months of 2021, a 64% increase from the 2020 annual average of USD 108.92 per tonne and a 90% increase from the 2019 annual average of UD 93.85 per tonne.
