Iron ore pellets refer to those spherical-shaped agglomerates that come with iron (Fe) content. This iron content in these pellets ranges from around 64% to 72% and are made in a specialized plant for pellet. These pellets are gaining substantial traction amongst steelmakers, thanks to their high productivity and high efficiency in comparison with fines or lumps. This factor is estimated to amplify growth opportunities for the global iron ore pellets market in the years to come.