During January-March 2025, Swedish mining group LKAB's iron ore shipments surged 2.2 times YoY to 6.5 million mt. According to the company's interim report, pellets accounted for 91% of shipments (95% in Q1 2024).
In contrast, production of iron ore products saw a slight decline during the same period, down 1.5% YoY to 6.6 million mt. The company attributed the significant shipment growth to a low base effect, as an accident on the iron ore transport railway line in Q1 2024 severely impacted shipments.
