According to the reports from Fitch Solutions, a leading provider of credit intelligence under Fitch Group, the global iron ore production will increase significantly in the coming years, and it will end the stagnant prices after iron ore price hit a ten-year record low in 2015.

Australia and Brazil’s iron ore growth and stable China’s ore output drove the global iron ore growth. Apart from that, China will invest in oversea mines to secure import iron ore supply.

Fitch predicted that the global mine output will averagely increase by 2.7% from 2022 to 2026, compared to a drop of 1.3% over the past five years.