Driven by a domestic shortage of high-grade material, India’s iron ore imports are expected to reach 12 to 14 million tons in the fiscal year 2025-26. This volume more than doubles figures from the previous year, led by JSW Steel’s demand for its western and southern mills.

For the imports in this fiscal year, Brazil and Oman supplied roughly 70% of these shipments.

While local output is predicted to rise to 305 million tons in the fiscal year 2025-26, India continues to export its low-grade ore, primarily to China. Meanwhile, processed pellet imports are expected to drop due to Middle East tensions and sufficient local availability.

Despite rising domestic production, market participants expect import levels to remain dependent on specific grade requirements and plant supply dynamics in the coming year.