A report from analytics company GlobalData says that iron ore exports from India are expected to decline by around 25% to 23.3 Mt in 2020, due to the coronavirus (Covid-19) outbreak and the subsequent closure of ports, shortage of workers and transport restrictions.

The country’s iron ore output in full year 2020 is expected to fall to 205.7 Mt, a 12.5% decline compared with 2019 (234.9 Mt). However, despite a decline in 2020, the production of iron ore in India is expected to grow over the forecast period (2020–2024) at a compound annual growth rate (CAGR) of 7.2% to reach 271.2 Mt in 2024, following a resumption of operations, GlobalData said. Iron ore exports could then grow at a CAGR of 4.2% to reach 27.5 Mt in 2024, supported by improving demand from China.