The Global DR-Grade Iron Ore Pellets Market was valued at USD 25.48 Billion in 2025 and is projected to reach USD 37.21 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period (2024–2034). This robust growth is being fueled by the accelerating global shift towards green steel production, stringent environmental regulations, and the rising demand for high-grade iron ore in direct reduction iron (DRI) and electric arc furnace (EAF) processes.

As the steel industry undergoes its most significant transformation in decades, the focus is on the key suppliers of DR-grade pellets who are enabling lower-carbon steelmaking and enhancing production efficiency. In this blog, we profile the Top 10 Companies in the DR-Grade Iron Ore Pellets Industry—a mix of global mining giants, integrated steel producers, and specialized pellet providers shaping the future of sustainable steel production.

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🔟 1. Vale S.A.

Headquarters: Rio de Janeiro, Brazil
Key Offering: Carajás IOCJ, Iron Ore Pellets for Blast Furnace and DRI

Vale is the world’s largest producer of iron ore and pellets, with its high-grade Carajás ore being a benchmark for the DRI industry. The company operates pelletizing plants in Brazil and Oman, strategically positioned to serve both Atlantic and Asian markets. Vale’s pellets are renowned for their high iron content (typically above 67% Fe) and low impurities, making them ideal for efficient DRI production.

Sustainability & Innovation Initiatives:

• Investment in ‘green briquettes’ technology as a low-carbon alternative to traditional pellets
• Target to reduce Scope 1 and 2 emissions by 33% by 2030
• Expansion of pellet production capacity to meet growing DRI demand

Download FREE Sample Report:
DR-Grade Iron Ore Pellets Market – View in Detailed Research Report

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9️⃣ 2. Rio Tinto

Headquarters: London, United Kingdom & Melbourne, Australia
Key Offering: IOCJ Pellets, SP10 & SP11 Lump and Fines for DRI

Rio Tinto is a leading global mining group with significant iron ore operations in Western Australia’s Pilbara region. The company produces high-grade iron ore pellets and fines suitable for DRI processes, with a focus on product consistency and quality. Rio Tinto’s IOCJ pellets are specifically engineered to meet the stringent requirements of modern DRI plants.

Sustainability & Innovation Initiatives:

• Development of BioIron™ technology using biomass instead of coal
• Partnerships with steelmakers to develop low-carbon steelmaking pathways
• Commitment to reach net-zero emissions by 2050

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8️⃣ 3. BHP Group

Headquarters: Melbourne, Australia
Key Offering: Newman Fines, MAC™ Pellets, Yandi Fines for DRI applications

BHP is one of the world’s largest diversified resources companies, with massive iron ore operations in Western Australia. The company produces high-quality iron ore pellets and fines that meet DR-grade specifications, supporting the global transition to electric arc furnace steelmaking. BHP’s technical marketing team works closely with DRI producers to optimize pellet quality.

Sustainability & Innovation Initiatives:

• Investment in carbon capture and storage technologies for steelmaking
• Partnership with leading steel producers to reduce emissions across the value chain
• Target to reduce operational emissions by at least 30% by 2030

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7️⃣ 4. Fortescue Metals Group

Headquarters: East Perth, Western Australia
Key Offering: Fortescue Iron Bridge Magnetite Concentrate, High-grade pellets

Fortescue has transformed from a pure-play iron ore miner to an integrated green energy and resources company. Through its Iron Bridge Magnetite Project, Fortescue produces high-grade magnetite concentrate (67% Fe) that is pelletized for DRI applications. The company is aggressively pursuing green steel technologies as part of its broader decarbonization strategy.

Sustainability & Innovation Initiatives:

• Development of green hydrogen-based steelmaking technology
• Target to achieve real zero terrestrial emissions by 2030
• Investment in renewable energy projects to power mining operations

Download FREE Sample Report:
DR-Grade Iron Ore Pellets Market – View in Detailed Research Report

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6️⃣ 5. Metalloinvest

Headquarters: Moscow, Russia
Key Offering: High-quality iron ore pellets, HBI (Hot Briquetted Iron)

Metalloinvest is a leading global producer and supplier of HBI and iron ore products, with the world’s largest measured iron ore reserves. The company operates two major mining and processing operations in Russia, producing high-quality DR-grade pellets primarily for its own HBI production and external customers. Metalloinvest is one of the few fully integrated players from mining to HBI production.

Sustainability & Innovation Initiatives:

• Pioneering HBI technology for direct reduction processes
• Implementation of energy-efficient pelletizing technologies
• Development of ultra-high-grade iron ore concentrates

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5️⃣ 6. ArcelorMittal

Headquarters: Luxembourg City, Luxembourg
Key Offering: Iron ore pellets for captive DRI plants, merchant pellets

As the world’s second-largest steel producer, ArcelorMittal has significant captive iron ore pellet production to feed its global DRI operations. The company operates pellet plants in North America, Europe, and other regions, producing high-quality DR-grade pellets optimized for its proprietary DRI technologies. ArcelorMittal also supplies pellets to external customers in the merchant market.

Sustainability & Innovation Initiatives:

• Development of smart carbon and DRI-based steelmaking routes
• Target to reduce CO2 emissions by 25% by 2030
• Investment in hydrogen-based DRI pilot plants

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4️⃣ 7. LKAB Group

Headquarters: Luleå, Sweden
Key Offering: Magnetite-based DR pellets, Iron ore concentrates

LKAB is Europe’s largest iron ore producer and a world leader in underground mining. The company specializes in high-quality magnetite-based iron ore pellets that are particularly suitable for DRI processes due to their high iron content and consistent quality. LKAB’s DR pellets are essential for the European green steel transition, supplying major DRI plants across the continent.

Sustainability & Innovation Initiatives:

• Development of carbon-free sponge iron production using hydrogen
• Target to reduce CO2 emissions in customers’ value chain by 35 million tonnes annually by 2035
• Transformation to carbon-free iron ore production by 2045

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3️⃣ 8. Cleveland-Cliffs Inc.

Headquarters: Cleveland, Ohio, USA
Key Offering: Acid pellets, Flux pellets, DR-grade pellets

Cleveland-Cliffs is the largest flat-rolled steel producer in North America and a major supplier of iron ore pellets. The company operates several pellet plants in Michigan and Minnesota, producing various grades of pellets including specialized DR-grade products. Cleveland-Cliffs supplies pellets to its own DRI facilities and external customers, playing a crucial role in the North American steel ecosystem.

Sustainability & Innovation Initiatives:

• Development of next-generation DRI technology for integrated steel plants
• Investment in carbon capture utilization at iron ore facilities
• Commitment to reduce greenhouse gas emissions by 25% by 2030

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2️⃣ 9. HBIS Group

Headquarters: Shijiazhuang, Hebei, China
Key Offering: DR pellets, High-grade iron ore concentrates

HBIS Group is China’s second-largest steel producer and has been actively developing its DR-grade pellet production capabilities to support the country’s steel industry transformation. The company operates large-scale mining and pelletizing facilities, producing high-quality pellets for both blast furnace and DRI applications. HBIS is at the forefront of China’s efforts to develop hydrogen-based steelmaking technologies.

Sustainability & Innovation Initiatives:

• Development of hydrogen metallurgy demonstration project
• Implementation of ultra-low emission technologies across operations
• Target to peak carbon emissions by 2025 and achieve carbon neutrality by 2050

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1️⃣ 10. Anglo American

Headquarters: London, United Kingdom
Key Offering: High-grade iron ore pellets, Kumba iron ore products

Anglo American is a leading global mining company with significant iron ore operations in South Africa and Brazil. The company produces high-quality DR-grade pellets through its Kumba Iron Ore subsidiary and Brazilian operations. Anglo American’s pellets are known for their consistent quality and high iron content, making them suitable for modern DRI processes requiring precise chemical and physical specifications.

Sustainability & Innovation Initiatives:

• Development of hydrogen-powered haul trucks for mining operations
• Target to achieve carbon neutrality across operations by 2040
• Investment in sustainable mining technologies and water conservation

Get Full Report Here:
DR-Grade Iron Ore Pellets Market – View in Detailed Research Report

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🌍 Outlook: The Future of DR-Grade Iron Ore Pellets Is High-Grade and Sustainable

The DR-grade iron ore pellets market is experiencing a structural transformation. While traditional blast furnace-grade pellets still dominate volumes, the industry is rapidly shifting toward higher-quality, lower-impurity pellets optimized for DRI processes. This transition is driven by the global steel industry’s commitment to reduce carbon emissions and improve production efficiency.

📈 Key Trends Shaping the Market:

• Rapid expansion of DRI-EAF steelmaking capacity, particularly in the MENA region and North America
• Increasing demand for pellets with iron content above 67% Fe and low silica/alumina levels
• Development of hydrogen-ready DRI plants requiring specialized pellet qualities
• Growing emphasis on supply chain transparency and carbon footprint tracking

Get Full Report Here:
DR-Grade Iron Ore Pellets Market – View in Detailed Research Report

The companies listed above are not only supplying essential raw materials for global steel production—they’re enabling the green transformation of one of the world’s most critical industries.