India's iron ore imports hit 7-year high in CY'25 as production lags behind demand

India resumes pellet imports after nearly 4-year hiatus. 25% drop in iron ore output drives JSW to double imports. Material shortages keep Indian prices firm, global prices fall

Morning Brief: India's iron ore imports stood at 12.2 million tonnes (mnt) in CY'25, as per provisional data. Of this, 10.4 mnt comprised fines and lumps, almost doubling y-o-y (+97% y-o-y), while pellets accounted for 1.8 mnt, a manifold surge from just 0.06 mnt. This is the highest annual import