[India Emerges as Potential Market for Australian Green Iron as China Demand Declines]

Published: Oct 15, 2026 15:25 (GMT+8)

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India and Southeast Asia could emerge as important markets for Australian green iron as declining Chinese steel demand forces Australia to diversify its iron ore exports, according to a report released by the Institute for Energy Economics and Financial Analysis (IEEFA) on October 15. The report cited Australian government projections that India's iron ore imports could reach 50 million tonnes by 2031, while Jindal Steel has indicated plans to import direct reduced iron (DRI) and hot briquetted iron (HBI) amid limited availability of metallics, including scrap. With around 80–85% of Australia's iron ore currently shipped to China, IEEFA highlighted opportunities for Australian producers to develop higher-value iron products for growing Asian steel markets. However, commercial green iron shipments to India remain a potential opportunity rather than confirmed trade.

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