India's appetite for steel: the new frontier for BHP's iron ore outlook

In its latest Economic and Commodity Outlook released on August 18, Australian mining giant BHP has painted a resilient picture for the iron ore market through the next decade. Notably, with Chinese steel production plateauing, the company is increasingly looking to India as being the next major driver of seaborne iron ore demand.

From net exporter to major importer: a structural shift India's growing influence in the global iron ore market is clearly reflected its dramatic reversal in trade flows. At its peak in 2009, the country exported 98 million tonnes of iron ore while importing less than 1 million tonnes, according to