In the first half of this year, global iron ore production totaled around 1.19 billion tons, decreasing by 2.7% compared with the same period a year ago. The decrease was mainly due to the Russia-Ukraine war, the Covid-19 epidemic, and bad weather.

However, global iron ore production was expected to rebound in the second half year because Brazil’s weather would improve in the fourth quarter and many new mining projects will be launched.

Besides, China planned to increase its iron ore production by 12.5% year on year 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.