In the first half of 2022, global iron ore production totaled around 1.19 billion tons, decreasing by 2.7% compared to the same period of the previous year. The war between Russia and Ukraine was the main cause of the decrease, along with the Covid-19 epidemic, and the weather conditions.
However, global iron ore production is expected to rebound in the second half year due to the improvement in Brazil’s weather in the fourth quarter and also the launch of many new mining projects.
China, on the other hand, planned to increase its iron ore production by 12.5% y-o-y to 78.3 million tons in the fourth quarter.
As a result, the global iron ore output this year was expected to keep flat compared with last year, reaching around 2.4 billion tons.
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