Australia iron ore supply summary Report

Country Report 24 December 2024

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

In 2024, Australia maintained its dominance in the iron ore market with 50% margins despite a slight expected decline in production. Stable supply from major producers – Australia, Brazil, and India – combined with mixed demand from Chinese steelmakers contributed to stable iron ore prices for regional suppliers. Australian production saw a modest increase of 0.5%, achieving 945 Mt in 2023, and a slight decline is expected to 937 Mt in 2024. Trade relations with China improved, highlighted by joint projects like the Ashburton Hub and Western Range mine. These developments solidify Australia’s position as a global leader in iron ore production.

Capital costs

Tables and charts

This report includes the following images and tables:

Capital costs
Average operating margin (US$/tonne)
2024 Australia iron ore CO2e emission curve - by product

2024 iron ore seaborne export CO2e emission curve (Scope 1&2)
Production by key company
Proportions of fines, lump, concentrate and pellets
Costed production by status
Attributable marketable production by company
Seaborne iron ore cash costs by operator 2024 (CFR China, unadjusted for quality)
Port export capacity
Pilbara Region
Other Western Australia
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