Abstract: Under the world’s major changes unseen in a century, countries are paying more attention to iron ore and other strategic mineral resources. In the process of construction and reform, China’s iron and steel industry has gradually formed a long process-oriented, large-scale smelting equipment, and market-oriented industrial layout along the coast and rivers. Iron ore becomes one of the most important raw materials for the iron and steel industry. In the new historical background, taking into account the economic growth momentum and structure, urbanization and industrialization, population and industrial policy and other factors, it is generally judged that China’s iron and steel production and demand has entered the peak platform period, and it will enter the era of high-quality development of “development of reduction and competition of stock”. Based on per capita crude steel consumption “S-shaped” law and downstream industry demand, it is forecasted to be 898 million tons and 825 million tons crude steel in 2030 and 2035, respectively. Further forecast China’s iron ore demand, it is expected that the demand for iron ore （TFe: 62%） will be reduced to 996 million tons and 814 million tons. While the total volume and proportion of imported iron ore will decline due to the rise in domestic mine capacity. Under the development trend of the industry, the first suggestion is that in the context of reduction development, China’s iron and steel industry needs to guide steel companies to optimize product structure and production capacity to “go global”. Secondly, steel companies need to promote technological innovation, adapt to changes in supply and demand, promote balance between supply and demand, and adjust the raw material structure. Thirdly, improve the coordination and connection system of iron ore exploration, production, supply, storage and sales to ensure the safety of the steel and iron ore industry chain and supply chain.