China didn't achieve 820 mill overnight and the point of the report is to look into future 5-10 years down the line.
India with its big infrastructure plans will be in the same position as China few years down the line and if you look at Chinese figures back in 1990's you will see startling similarity between both of them.
Besides that have a look at what middle eastern countries and Africa have in store for 5-10 years down the line and you will see where the excess ore will be going to.