From major exporter to growing importer: India's iron ore trade upended by steel boom

India, the world's fourth-largest iron ore producer behind Australia, Brazil and China, exported approximately 21 million tonnes of iron ore during January-October this year, marking a sharp decline of 15 million tonnes or 35% on year, according to the latest data available from the country's Ministry of Commerce and Industry.

Iron ore exports to China, India's top destination of the commodity, also dropped by a substantial 10.4 million tonnes or 34.5% on year to 19.6 million tonnes during the same ten months, the official data showed. This decline in China-bound exports contributed to almost 70% of the decrease in