The global volume of iron ore maritime supply notably grew by 3.6% and reached a historic level by 2024. However, practically all of the increase was ensured by China, the largest importer of this raw material in the world, which is the main component for steel production.
Of the total increase of 59.1 million tons, 39 million tons went to China, whose maritime iron ore supplies increased by 4.9% to 1.274 billion tons. According to the 'Keyber' analytics, the global volume of maritime iron ore supply in 2024 amounted to 1.707 billion metric tons, increasing by 60 million tons compared to 2023, when the volume reached 1.647 billion tons.
These figures indicate that maritime supplies of iron ore to China have reached new heights.
