Rio Tinto anticipates stable demand for iron ore in China, despite global economic uncertainties. CEO Jakob Stausholm stated at a recent Bank of America conference that China’s economic outlook has improved compared to last year, with advancements in energy transition and electric vehicle innovation supporting growth. He noted that Rio Tinto's business in China is performing well, with increasing demand for iron ore in the first quarter of 2025. Additionally, the company plans to begin shipping iron ore from the Simandou project in Guinea by November.

Australia’s BHP Group remains confident in its commodities portfolio, particularly iron ore, amid high tariffs and volatile trade conditions. CEO Mike Henry highlighted at the same conference that China aims to sustain annual steel production at 1 billion tons, while iron ore reserves continue to deplete. Independent estimates suggest a depletion of 250 million tons by 2035, which, coupled with high production costs, is expected to support medium-term iron ore prices.

Sea shipments of iron ore to China reached 103.14 million tons in April, marking a 9.8% month-over-month increase. However, imports between January and April fell 5.5% compared to the previous year, reflecting shifting market dynamics.