Global steel production fell in 2025, mainly due to reduced output in China and other major producers. However, India and Southeast Asia are expected to see strong growth in steel output in the coming years.

Australia’s iron ore export volumes are rising. However, export earnings are forecast to decrease due to lower prices, declining ore grades and a stronger Australian dollar.

Australia's iron ore export earnings are forecast to decline from $116 billion in 2024–25 to $114 billion in 2025–26 and $107 billion in 2026–27.

(source: https://www.industry.gov.au/publications/resources-and-energy-quarterly-december-2025)