Global iron ore supply outlook for 2026: expansion driven by new capacity ramp-ups and project commissioning

Source: Mysteel Dec 19, 2025 19:26

A multi-year period of elevated iron ore prices has accelerated global investment in new mining capacity, pushing a sizeable pipeline of projects toward commissioning. With these developments converging, the global iron ore market is entering a decisive phase of supply expansion. While 2025 experienced only moderate growth due to early-stage ramp-up limitations and weather-related disruptions in Australia, 2026 is set to deliver a more substantial increase as major projects, most notably Simandou, begin contributing meaningful volumes.

This report presents Mysteel's latest assessment of the global supply outlook for 2026, outlining the capacity additions, regional growth patterns, and key uncertainties shaping the market. Global Iron Ore Supply Expected to Strengthen in 2026 Mysteel estimates global iron ore production at approximately 2.61 billion tonnes in 2025, an increase of

Price Curve

Daily Prices

Iron ore concentrates procurement prices: Shanxi major mills

May 20, 2026 11:07
Iron ore concentrates procurement prices: Anhui major mills

May 20, 2026 11:00
Iron ore concentrates procurement prices: Inner Mongolia major mills

May 20, 2026 11:00
Iron ore concentrates procurement prices: Jiangxi major mills

May 20, 2026 11:00
Iron ore concentrates procurement prices: Fujian major mills

May 20, 2026 11:00

Mysteel Global WhatsApp business account

Customer Service: globalsales@mysteel.com