Australia anticipates a $19 billion decline in iron ore export revenues by 2027, driven by cooling demand from China and a global pivot toward greener alternatives. The forecast reflects both short-term market adjustments and long-term structural changes in global steelmaking.
China’s shift toward scrap-based electric arc furnace production and a growing emphasis on carbon neutrality are expected to reduce its reliance on imported iron ore. Meanwhile, global steelmakers are diversifying supply chains and investing in alternative raw materials and recycling technologies.
Australia, the world’s top iron ore exporter, will need to adapt to changing dynamics by exploring value-added mining, expanding into critical minerals, and aligning exports with the green transition. The projected revenue dip underscores the urgency of reshaping the nation’s commodity strategy.
Vietnam Steel by Hoa Sen Group
