Global seaborne iron ore imports rose by 3.6% year-on-year in 2024, reaching 1.707 billion tons, according to Kpler analysts. This increase was primarily driven by China, which imported 1.274 billion tons, a 4.9% rise from the previous year. Despite expectations of a decline in steel production, factors such as lower prices and replenishment of reserves contributed to the high import levels. Meanwhile, imports in developed European countries fell to 85.12 million tons, with the UK leading the decline. Analysts predict continued pressure on iron ore prices in 2025, averaging around $95 per ton.