Al Jazeera Net correspondents
Iron forms the backbone of modern industry, and plays a vital role in steel production, infrastructure development, and is used in the manufacture of a large number of consumer goods.
Iron ore is rocks and minerals that can be heated in the presence of a reducing agent to extract metallic iron, and industries around the world depend on these sources to obtain primary iron.
The total volume of iron ore produced worldwide reached 2.5 billion metric tons in 2023, and Australia and Brazil are the largest producers. Australia’s iron ore reserves are the highest with 58 billion metric tons of ore in its territory, according to the Statista statistical platform.
About 98% of the extracted iron ore is used in the steel industry, making it one of the most important basic commodities along with oil. Given its importance, many countries are seeking to extract the iron hidden in their lands to improve their economic situation and increase their income, according to what the Survey Authority reported. American Geologist.
In 2022, the global market value of iron ore mining reached about $328.52 billion. This number is much lower than the market value of iron ore mining in 2021, which amounted to $482.91 billion. The global market value of iron ore mining is expected to reach about $305 billion. Dollar in 2023, according to Statista. The reason for this decline is most likely due to the Russian-Ukrainian war, the disruption of supply chains, and the sanctions imposed on Russia.
The 10 largest iron ore producing countries in the world
Iron ore is mined in about 50 countries in the world, and the 7 largest producing countries account for about three-quarters of total global production.
Below we present to you a list of the 10 largest iron ore producing countries in the world in 2022, according to the Investing News platform, based on data provided by the US Geological Survey.
- Australia: 880 million metric tons.
- Brazil: 410 million metric tons.
- China: 380 million metric tons.
- India: 290 million metric tons.
- Russia: 90 million metric tons.
- Ukraine: 76 million metric tons.
- South Africa: 76 million metric tons.
- Iran: 75 million metric tons.
- Kazakhstan: 66 million metric tons.
- Canada: 58 million metric tons.
The 10 largest iron ore exporting countries in the world
Global iron ore trade in 2023 increased by 5% compared to 2022 to 1.59 billion tons. The main factors behind the increase in iron ore trade are increased imports from China and increased exports from India and Brazil. We will find countries that are not among the largest producers, but are included in the list of countries that export the most iron ore, such as Sweden, which produced 38 million metric tons of iron ore in 2023, as stated by the Statista platform, and it exports the surplus to global markets.
The following is a list of the 10 largest iron ore exporting countries in the world in 2023, according to GMK Center (GMK.center):
- Australia: 855 million tons.
- Brazil: 380 million tons.
- South Africa: 59 million tons.
- Canada: 57 million tons.
- India: 44 million tons.
- Sweden: 34 million tons.
- Peru: 19 million tons.
- Ukraine: 18 million tons.
- Chile: 16 million tons.
- Russia: 15 million tons.
The 10 largest iron ore importing countries in the world
China is the largest importer of iron ore in the world, and in the Arab world, the state of Bahrain appears on the list of the 10 largest importing countries in 2022, as it includes a huge integrated steel factory, and this complex is located in Bahrain over an area of 1.3 million square meters. Bahrain exports most of its integrated steel production to the Gulf Cooperation Council countries and the Middle East and North Africa region, according to the Arab Iron and Steel Union platform.
The following is the list, according to what Global Trade Mag reported:
- China: $137.7 billion.
- Japan: $13.7 billion.
- South Korea: $8.9 billion.
- Germany: $5 billion.
- Netherlands: $3.3 billion.
- Taiwan: $2.8 billion.
- Vietnam: $1.9 billion.
- Bahrain: $1.9 billion.
- Malaysia: $1.7 billion.
- France: $1.7 billion.
The 10 largest steel manufacturers in the world
This is a list of the 10 largest steel manufacturers in the world and their annual production, according to 2022 data issued by the World Steel Federation, according to what Reuters reported.
- China Baowu Steel Group Corporation: 131.84 million tons.
- ArcelorMittal from Luxembourg 68.89 million tons.
- Chinese Ansteel Group: 55.65 million tons.
- Nippon Steel Corporation of Japan 44.37 million tons.
- Shagang Group, China: 41.45 million tons.
- Chinese HBIS Group 41 million tons.
- POSCO Holdings, South Korea: 38.64 million tons.
- Chinese Jianlong Group: 36.56 million tons.
- Shougang Group, China: 33.82 million tons.
- Tata Steel India 30.18 million tons.
It is noted that Chinese companies dominate this list, as China is the largest importer of iron ore in the world, and it is also the largest manufacturer of steel in the world, as China produces more than one billion tons annually.
The following is a list of the top 10 steel producing countries in the world in 2023, according to what was reported by the World Steel Association:
- China: 1.02 billion tons.
- India: 140.2 million tons.
- Japan: 87 million tons.
- United States: 80.7 million tons.
- Russia: 75.8 million tons.
- South Korea: 66.7 million tons.
- Germany: 35.4 million tons.
- Türkiye: 33.7 million tons.
- Brazil: 31.9 million tons.
- Iran: 31.1 million tons.
Total global steel production reached 1.88 billion tons in 2023, according to the previous source.
The 4 largest Arab countries producing steel
Egypt will be at the forefront of Arab countries producing steel in 2023 with a production volume of 10.4 million tons, and it is ranked 18th in the world. The following is a list of the 4 largest Arab countries producing steel in 2023, according to what the previous source stated.
- Egypt: 10.4 million tons.
- Saudi Arabia: 9.9 million tons.
- Algeria: 4.4 million tons.
- UAE: 3.2 million tons.
