Iron Ore rose to 106.94 USD/T on December 1, 2025, up 2.00% from the previous day. Over the past month, Iron Ore's price has risen 1.04%, and is up 1.54% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Iron Ore - values, historical data, forecasts and news - updated on December of 2025.

In 2024, iron ore was worth an average of approximately *** U.S. dollars per dry metric ton unit (dmtu), compared to only ** U.S. dollars per dmtu in 2000. The month with the highest average iron ore price in 2021 was June, at over *** U.S. dollars per dmtu. Iron ore: market context and price fluctuation Iron ore is composed of minerals and rocks from which metallic iron can be extracted. Iron ore is an important part of the world economy, as a large proportion of iron ore is used to make steel, which is a widely used material globally. In a given year, the monthly price of iron ore varies noticeably, ranging for example from a high of ****** U.S. dollars per dmtu in June 2021 down to a low of ***** U.S. dollars per dmtu in November 2021. Major iron ore producing nations Australia has the world's largest iron ore reserves, at ** billion metric tons of crude iron ore and is also the world's largest producer of iron ore. Not surprisingly, China, the world's leading steel manufacturer, is also the world's leading importer of iron. In recent years, China's iron imports have increased significantly, from ****** million metric tons in 2004, to over *** billion metric tons in 2018.

Iron Ore CNY rose to 794 CNY/T on November 28, 2025, up 0.70% from the previous day. Over the past month, Iron Ore CNY's price has fallen 1.31%, but it is still 0.13% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for Iron Ore CNY.

In May 2024, iron ore was valued at approximately *** U.S. dollars per dry metric ton unit (dmtu), as compared to *** U.S. dollars per dmtu in the same month of the previous year. Iron ore prices and production Iron ore refers to the minerals and rocks from which metallic iron is economically viable to extract. Pig iron, which is one of the raw materials used in steel production, is derived from iron ore. The price of iron ore has fluctuated a great deal over the last twenty years. In 2003, one dmtu of iron ore cost ** U.S. dollars, and increased to a high of *** U.S. dollars per dmtu in 2011. The price saw dramatic drops in the past decade, from ****** U.S. dollars per dry metric ton unit in March 2013 to ***** U.S. dollars per dmtu in December 2015. Since then, the price has increased gradually to ****** U.S. dollars per dmtu as of July 2021, before dropping sharply in August 2021. Iron ore producers Overall, the global production of iron ore did not decrease when the prices dropped. In fact, an increase in production among several of the world's largest iron ore producing countries was observed in the past five years. Australia produced *** million metric tons of iron ore in 2023. China is also among the world's largest iron ore producers, though its production is calculated differently than in other countries. Based primarily on the production of raw ore rather than usable ore, China produced an estimated *** million metric tons in 2023.

Iron ore prices in , October, 2025 For that commodity indicator, we provide data from January 1960 to October 2025. The average value during that period was 48.94 dry metric ton unit with a minimum of 8.77 dry metric ton unit in January 1968 and a maximum of 214.43 dry metric ton unit in June 2021. | TheGlobalEconomy.com

View monthly updates and historical trends for Iron Ore Spot Price (Any Origin). Source: World Bank. Track economic data with YCharts analytics.

This statistic depicts the average annual prices for iron ore from 2014 through 2024, with forecasted figures for 2024 to 2026. In 2024, the average price for iron ore stood at 109.4 nominal U.S. dollars per dry metric ton.

Manganese traded flat at 29.85 CNY/mtu on November 28, 2025. Over the past month, Manganese's price has risen 0.34%, and is up 2.05% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Manganese Ore - values, historical data, forecasts and news - updated on December of 2025.

Steel rose to 3,117 CNY/T on December 2, 2025, up 0.23% from the previous day. Over the past month, Steel's price has risen 1.30%, but it is still 7.09% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Steel - values, historical data, forecasts and news - updated on December of 2025.

According to Cognitive Market Research, the global Magnetite Iron Ore market size was USD 89514.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 35805.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 26854.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 20588.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 4475.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1790.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.
The magnetite category is the fastest growing segment of the Magnetite Iron Ore industry

Market Dynamics of Magnetite Iron Ore Market

Key Drivers for Magnetite Iron Ore Market

Growing Urbanization and Industrialization to Boost Market Growth

Steel manufacture uses magnetite as a raw material. Global demand for steel has increased due to the fast growth of both industrialization and urbanization. With a high iron concentration of up to 70%, magnetite iron ore is a fine iron ore that is sought after for use in the making of steel. A number of industries have experienced tremendous expansion recently, including manufacturing, construction, and the automobile sector. The market for magnetite iron ore has been adversely affected by this. Important technology advancements in the mining industry have also accelerated the shift to automation and spawned new technological advancements. This has improved efficiency in the mining sector and the market for magnetite iron ore while lowering labor costs.

Increasing Requirement for High-Grade Iron Ore to Drive Market Growth

There are growing prospects for expansion because of the increasing demand from steel producers for high-grade iron ore. Phosphorus, silica, and other impurities are present in small amounts in magnetite iron ore, but iron content is high. Due to its minimal greenhouse gas emissions, using high-grade iron ore lessens its impact on the environment. This aids producers in meeting air quality standards and lessening their carbon footprint in accordance with government laws. By employing cutting-edge land rehabilitation strategies, low-impact mining methods, and recycling mining waste, mining operations have a smaller negative environmental impact. Enterprises have the chance to employ electric-powered machinery to lower their carbon emissions and adopt an environmentally sustainable approach.

Restraint Factor for the Magnetite Iron Ore Market

High Price of Iron Ore Will Limit Market Growth

The price of iron ore internationally varies due to a number of factors, including disruptions in supply, changes in geopolitical situations, and variations in demand. These factors impact the cost of raw materials for the magnetite iron ore market. In the magnetite iron ore market, volatile prices discourage investment and have an adverse effect on profitability. Governments are enacting laws to incentivize companies to reduce their greenhouse gas emissions. In order to abide by these strict restrictions, which have an effect on their profit margins and restrict their expansion, businesses must invest in energy-efficient and renewable technologies.

Energy-Intensive Processing Requirements

One major restraint in the magnetite iron ore market is the high energy consumption required for processing magnetite into usable iron ore concentrates. Unlike hematite, magnetite has a lower iron content in its natural form and typically requires extensive beneficiation processes such as grinding, magnetic separation, and concentration. These processes are energy-intensive and result in higher operational costs and environmental impact, particularly in regions where electricity or fuel costs are high or where sustainability regulations are strict. This can discourage...

According to Cognitive Market Research, the global Iron Ore Mining Market size is USD 191548.25 million in 2024 and will expand at a compound annual growth rate (CAGR) of 7.20% from 2024 to 2031.

North America held the major market, accounting for more than 40% of global revenue. With a market size of USD 1086.08 million in 2024, it will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 814.56 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 624.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2031.
The Latin America market will account for more than 5% of global revenue and was USD 135.76 million in 2024, growing at a compound annual growth rate (CAGR) of 6.6% from 2024 to 2031.
The Middle East and Africa held the major markets, accounting for around 2% of the global revenue. The market was USD 54.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
The Construction held the highest Iron Ore Mining Market revenue share in 2024.

Market Dynamics of Iron Ore Mining Market

Key Drivers of Iron Ore Mining Market

Increasing Economic Growth and Industrialization

Economic growth, particularly in emerging economies like China and India, drives the demand for steel, which in turn fuels the demand for iron ore. Rapid urbanization and industrialization increase infrastructure and construction activities, boosting the need for steel products and thus stimulating iron ore mining. The steel industry is a primary consumer of iron ore. Any changes in steel production, influenced by factors such as construction projects, automotive manufacturing, and machinery production, directly impact the demand for iron ore.

Technological Advancements Opportunities To Propel Market Growth

Innovations in mining technologies enhance efficiency, reduce costs, and improve safety in iron ore extraction. Automation, remote monitoring, and data analytics play significant roles in optimizing operations, driving productivity, and increasing competitiveness in the market. Investments in infrastructure projects, including transportation networks, energy systems, and urban development, create demand for steel and, consequently, iron ore. Government initiatives aimed at infrastructure development can spur iron ore mining activities. Trade policies, tariffs, and geopolitical tensions influence the international flow of iron ore. Changes in trade agreements and tariffs imposed on steel and iron ore imports and exports can disrupt market dynamics, affecting prices and trade volumes.

Restraint Factors Of Iron Ore Mining Market

Community Opposition and Social License to Operate To Limit The Sales

Local communities often oppose mining projects due to concerns about environmental impacts, land rights, and social disruption. Conflict between mining companies and indigenous or rural communities can delay or halt operations, resulting in financial losses and reputational damage. Maintaining a social license to operate requires companies to engage with stakeholders, address grievances, and implement sustainable development initiatives, adding complexity and uncertainty to project planning and execution.

Impact of COVID-19 on the Iron Ore Mining Market

Lockdowns and restrictions imposed to contain the spread of the virus disrupted global supply chains, including those related to iron ore mining. Mining operations faced challenges such as labor shortages, logistical bottlenecks, and reduced access to essential inputs like equipment and spare parts. These disruptions led to delays in production and shipment, affecting the overall supply of iron ore to the market. The uncertainty surrounding the pandemic and its economic consequences contributed to heightened volatility in iron ore prices. Initially, demand uncertainty and concerns about steel production led to price declines. However, as economic activity resumed and stimulus measures were implemented, demand for steel rebounded, driving iron ore prices to record highs. Fluctuations in prices created challenges for both producers and consumers in managing their operations and financial planning. Introduction of the Iron Ore Mining Market

Iron ore mining is the process of extracting iron...

The article discusses the increasing demand for iron ores and concentrates in Australia, projecting a continued upward consumption trend over the next decade. Market performance is forecasted to slow down but still expand with an anticipated CAGR of +5.6% by 2035, reaching a volume of 1,804M tons. In terms of value, the market is expected to grow with an anticipated CAGR of +6.4% by 2035, reaching $185.8B (in nominal prices).

Australia has a large supply of mineral, hydrocarbon and non-mineral reserves, which are often high quality and close to the Earth’s surface, enabling Australia’s Mining division to be globally price competitive. Fluctuations in commodity prices have fuelled revenue volatility over the past few years. Energy supply shocks, driven by the Russia-Ukraine conflict, have sent global energy prices soaring, boosting the value of coal and liquefied natural gas (LNG) exports over the past few years. However, softening energy prices in the two years through 2024-25 will constrain energy export revenue and weaken expansion. Iron ore prices have also fluctuated significantly in recent years. These prices climbed to a peak in 2020-21 because of supply chain disruptions in Brazil. However, a recent property market crisis in China has weakened steel demand, causing iron ore prices to sink and reach a two-year low in September 2024. The price bounced back in October 2024 amid optimism surrounding the Chinese economy and stimulus measures, but is forecast to drop in 2024-25 as recent trade tensions and the United States’ sweeping tariffs exacerbated this trend and pushed prices down. Division revenue is expected to have risen at an annualised 0.6% over the five years through 2024-25, to $437.3 billion. This includes an anticipated fall of 10.5% in 2024-25 as the values of coal, LNG and iron ore exports ease on the back of softening prices. Some miners have pivoted towards future-facing commodities like copper and lithium to align with energy transition trends, but oversupply and softening prices pose ongoing profitability challenges. Soaring operational costs are compounding these issues as labour shortages, rising input costs and sophisticated competition have eroded profit margins. While commodity prices like oil, gas and coal have retracted from recent highs, they remain above 2019-20 levels, offering some relief and counteracting profitability dips. Many mining companies have moved from completing expansion programs to rebalancing their portfolios and implementing cost-reduction initiatives, offsetting profitability slumps. Output across several key commodities like iron ore is set to climb as new mines and expansion projects come online. Despite this, a global supply glut will ease commodity prices, reducing division revenue. Revenue is forecast to decline at an annualised 3.1% over the five years through 2029-30, to $374.3 billion. Growing demand for critical minerals and commodities used in renewable infrastructure represents a growth opportunity for some areas of the Mining division. Consolidation trends will also accelerate over the coming years as larger miners undertake mergers and acquisitions.

LME Index rose to 4,700 Index Points on October 29, 2025, up 0.79% from the previous day. Over the past month, LME Index's price has risen 7.33%, and is up 13.22% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. LME Index - values, historical data, forecasts and news - updated on December of 2025.

Nickel fell to 14,879.88 USD/T on December 3, 2025, down 0.20% from the previous day. Over the past month, Nickel's price has fallen 1.20%, and is down 7.47% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Nickel - values, historical data, forecasts and news - updated on December of 2025.

China Import Price: Iron Ore & Concentrate: Europe: Spain data was reported at 13,747.619 USD/Ton in Mar 2025. This records an increase from the previous number of 1,543.333 USD/Ton for Feb 2025. China Import Price: Iron Ore & Concentrate: Europe: Spain data is updated monthly, averaging 108.122 USD/Ton from Sep 2011 (Median) to Mar 2025, with 30 observations. The data reached an all-time high of 198,500.000 USD/Ton in Nov 2020 and a record low of 68.982 USD/Ton in Jan 2013. China Import Price: Iron Ore & Concentrate: Europe: Spain data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PG: Iron Ore and Concentrate Import and Export Price.

According to Cognitive Market Research, The Global Nodular Pig Iron market size is USD XX million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.50% from 2024 to 2031.

North America Nodular Pig Iron held the major market of more than 40% of the global revenue and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
Europe Nodular Pig Iron held the major market of more than 30% of the global revenue and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031
Asia Pacific Nodular Pig Iron held the market of around 23% of the global revenue and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
South America Nodular Pig Iron market has more than 5% of the global revenue and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
Middle East and Africa Nodular Pig Iron held the major market of around 2% of the global revenue and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031
The ordinary type segment is set to rise due to the growing demand from the automotive and construction sectors. Rising infrastructure projects globally and the versatile applications of nodular pig iron in manufacturing drive market expansion.
Increasing demand from automotive and machinery sectors due to its superior strength and flexibility. Additionally, infrastructure projects worldwide contribute to its growth.

Rising Reliance on Electricity Generation through Renewable Energy Sources to Provide Viable Market Output

The rising reliance on electricity generation through renewable energy sources is reshaping global energy landscapes, with wind, solar, and hydroelectric power gaining prominence. This shift reflects growing environmental concerns and technological advancements driving sustainable energy solutions. Concurrently, the nodular pig iron market experiences shifts as industries adapt to renewable energy demands, altering production processes and material requirements. As renewable energy's momentum grows, industries worldwide navigate transitions toward greener practices, influencing markets and fostering innovation in energy and raw material sectors.

For instance, as per the Institute for Energy Economics and Financial Analysis (IEEFA), investment in renewable energy in India achieved a document US$14.5 billion in the last financial year (FY2021-22), an expansion of 125% compared to FY2020-21 and 72% over pre-pandemic FY2019-20.

(Source:https://ieefa.org/articles/record-us145-billion-investment-indian-renewable-energy-sector-last-financial-year#:~:text=9%20June%20(IEEFA%20India)%3A,and%20Financial%20Analysis%20(IEEFA).)

Rising Wind Energy Capacities around the World to Propel Market Growth

The nodular pig iron market is witnessing growth, paralleling the rise in global wind energy capacities. As wind energy expands worldwide, demand for nodular pig iron, a crucial component in wind turbine production, escalates. This trend is boosted by the growing emphasis on sustainable energy sources, prompting increased production of wind turbines. The nodular pig iron market is poised to benefit from the accelerating momentum of the renewable energy sector, reflecting a symbiotic relationship between the two industries.

For instance, as the Global Wind Energy Council reported, 93.6 GW of new wind energy capacity was added in 2021 at a global level, with an increase of 1.8% over the last year.

(Source:https://www.nextias.com/ca/current-affairs/13-04-2022/global-wind-report-2022-gwec#:~:text=Growth%20in%20capacity%3A%20New%20installations,compared%20to%202020%20was%20installed.)

Market Restraints of the Nodular Pig Iron

Fluctuating Raw Material Prices to Restrict Market Growth

The nodular pig iron market faces challenges due to fluctuating raw material prices. The volatility in input costs, including iron ore and coke, impacts production costs, subsequently affecting nodular pig iron prices. Market participants must navigate these dynamics to maintain profitability. Adaptable strategies and efficient supply chain management become crucial in mitigating the impact of raw material price fluctuations on the nodular pig iron sector.

Impact of COVID-19 on the Nodular Pig Iron Market

The nodular pig iron market experienced fluctuations due to COVID-19. Initially, the pandemic disrupted production and supply chains, causing a...

Price-To-Tangible-Book-Ratio Time Series for Maanshan Iron & Steel Co Ltd. Maanshan Iron & Steel Company Limited, together with its subsidiaries, manufactures and sells iron and steel products, and related by-products in Mainland China, Hong Kong, and internationally. It provides steel plates, including hot and cold-rolled thin plates, galvanized plates, coil-coating plates, and medium plates; section steel products, such as H-shaped steel and medium-shaped steel; high-speed wire rod and hot-rolled reinforcing steel products; and train wheels and wheel rims. The company also engages in the production and distribution of ferrous metallurgy, screw threaded steels, round and section steels, angle and deformed steels, wires, and rods; sale, import, and export of iron ore, iron ore fines, and scrap steel; metallurgy and extended processing of iron and steel products. In addition, it is involved in production and sale of coke, ammonium sulfate, and coal coke chemical products; production and distribution of metallic products; design, research and development, manufacture, maintenance, and sale of rail wheels, axles, wheel sets, bogies, and other rail equipment. Further, the company engages in trading of steel products and pig iron; and investment and trading businesses. Maanshan Iron & Steel Company Limited was founded in 1953 and is headquartered in Maanshan, the People's Republic of China.

Price-Earnings-Ratio Time Series for KIOCL Limited. KIOCL Limited engages in the iron ore mining, beneficiation, and production of pellets in India and internationally. The company operates through two segments, Pellet and Pig Iron. It produces and sells iron ore pellets, pig iron, and iron ore fines. The company also provides operation and maintenance services, as well as mineral exploration services. It serves steel and metallurgy, automotive and transportation, mining and mineral resources, infrastructure and construction, and energy and power industries. The company was formerly known as Kudremukh Iron Ore Company Limited. KIOCL Limited was incorporated in 1976 and is headquartered in Bengaluru, India.

Coal fell to 108.35 USD/T on December 1, 2025, down 1.86% from the previous day. Over the past month, Coal's price has fallen 1.14%, and is down 20.33% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Coal - values, historical data, forecasts and news - updated on December of 2025.