India's iron ore imports have already exceeded 10 million tonnes in the first 11 months of CY25. In the first 11 months, total imports amounted to 10.6 million tonnes, according to preliminary data from BigMint. Of this, 9 million tonnes are fines and lumps, and the rest, 1.55 million tonnes, are iron pellets.
Imports reached their highest level since 2018, a seven-year high, and only the third time in history that annual imports have topped the 10 million tonnes mark. In 2018, the suspension of production at several mines in Odisha caused a surge in imports.
JSW Leading Importer, Leading Exporter of Brazil
Among iron ore importers, JSW Steel topped the list with production of 8.7 million tonnes in the first 11 months of 2025. Other importers were AOne Steel, Balaji Malt etc. Brazil accounts for Brazil. India accounted for the largest share of imports at 4.2 million tonnes, followed by Oman (2.5 million tonnes) and Australia (1.5 million tonnes).
Among pellet importers, Suryadev was the largest with 220,000 tonnes, followed by Delta Global. Oman (1.5 million tonnes) was the largest source of imports, followed by the UAE. According to sources, Iranian pellets were supplied throughout the year by mills in western and southern India.
Why did imports of iron ore and pellets increase in CY'25?
- Only a slight increase in domestic iron ore production: Iron production ore in India was recorded at 237 million tons in January-October 2025 compared to 233.3 million tons in the same period last year. This marginal rise in Indian iron ore production was unlikely to match the 10-12 per cent year-on-year rise in crude steel production. Indian steel production in the first 10 months of this year stood at 135.3 million tonnes. Thus, imports can be seen as a means of covering domestic shortfalls to some extent.
In fact, Brazilian iron ore giant Vale has officially announced that India is becoming a top destination, coinciding with a gradual decline in steel production and iron ore demand in China. Vale believes Vale's high-grade ore pairs well with lower-grade Indian ore, creating opportunities for both markets.
Demand outpaced domestic production in 2025 and the availability of higher grade ore was a concern. In addition, production delays at auctioned mines have created
