Iron Ore rose to 96.76 USD/T on July 14, 2025, up 0.05% from the previous day. Over the past month, Iron Ore's price has risen 1.61%, but it is still 11.77% lower than a year ago, 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 July 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.

The Australian iron ore market contracted to $X in 2019, with a decrease of -X% against the previous year. In general, consumption, however, saw a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. As a result, consumption attained the peak level of $X, and then dropped in the following year.

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 miners have faced difficult trading conditions because of easing iron ore prices over the past few years, despite the nation maintaining its status as the world's largest iron ore supplier and benefiting from proximity to Asian markets. However, modest growth in production volumes has partly offset revenue declines. Industry revenue is expected to have sunk at an annualised 1.7% over the five years through 2024-25, to $131.5 billion. Easing iron ore prices, driven primarily by a slowdown in China's construction sector and soaring supply, are weighing on iron ore miners' revenue and export values. Despite an economic stimulus from the Chinese government aimed at its property sector, iron ore prices are poised to remain low throughout 2024-25, prompting an anticipated revenue slump of 18.0% over the year. Iron ore prices remained volatile in the first half of 2025, with sweeping US tariffs initially weakening market sentiment and pushing prices down. The following scaling back of these tariffs helped fuel a partial recovery in iron ore prices. The industry’s profitability has eroded over recent years – including an expected drop in 2024-25 – because of lower prices and soaring input costs. Australia's domestic iron ore production has grown from 911.1 million tonnes in 2019-20 to an estimated 968.7 million tonnes in 2024-25. Expansion plans and investments by prominent producers like BHP, Rio Tinto and Fortescue in projects like the South Flank, Gudai-Darri and Iron Bridge operations have fuelled this growth. Rising input expenses, attributable to inflation and labour shortages, along with weak iron ore prices, are forcing producers to undertake aggressive cost-slashing measures, prompting market leaders to undertake job cuts and maintain lean operations. Operating at a lower end of the cost curve will be crucial for Australian iron ore miners to ride out market volatility over the coming years. While Australia is on track to ramp up production to over 1.0 billion tonnes by 2026-27, iron ore prices are projected to fall over the five years through 2029-30 because of surging supply from producers in Australia and Brazil and new mines like the Simandou project. Iron ore miners' revenue is forecast to contract at an annualised 3.9% over the five years through 2029-30, to $107.8 billion. Major companies are set to continue dominating the iron ore mining sector due to several expansion projects. The industry focus will likely shift towards emerging opportunities in the green iron and steel market, spurred by initiatives like the $1.0 billion Green Iron Investment Fund.

Australia BHP: Average Realized Price: Iron Ore data was reported at 56.710 USD/WMT in Jun 2018. This records an increase from the previous number of 56.540 USD/WMT for Dec 2017. Australia BHP: Average Realized Price: Iron Ore data is updated semiannually, averaging 58.420 USD/WMT from Jun 2013 (Median) to Jun 2018, with 11 observations. The data reached an all-time high of 112.000 USD/WMT in Dec 2013 and a record low of 43.000 USD/WMT in Dec 2015. Australia BHP: Average Realized Price: Iron Ore data remains active status in CEIC and is reported by BHP Billiton Group. The data is categorized under World Trend Plus’s Top Company: Metal and Mining: Asia Excluding China – Table WB.AT003: BHP Billiton Group (BHP): Operational Data.

As of December 2024, the gross value added (GVA) of the iron ore mining industry in Australia amounted to almost 97 billion Australian dollars. The GVA of this industry has overall increased in the country over the past ten years, with significant mines located in Western Australia.

Iron Ore Price in Australia - 2023. Find the latest marketing data on the IndexBox platform.

Iron Ore CNY rose to 766 CNY/T on July 11, 2025, up 0.20% from the previous day. Over the past month, Iron Ore CNY's price has risen 9.04%, but it is still 7.38% lower 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.

China Import Price: Iron Ore & Concentrate: Oceania: Australia data was reported at 97.959 USD/Ton in Mar 2025. This records an increase from the previous number of 97.654 USD/Ton for Feb 2025. China Import Price: Iron Ore & Concentrate: Oceania: Australia data is updated monthly, averaging 101.919 USD/Ton from Jan 2008 (Median) to Mar 2025, with 205 observations. The data reached an all-time high of 209.402 USD/Ton in Aug 2021 and a record low of 41.662 USD/Ton in Feb 2016. China Import Price: Iron Ore & Concentrate: Oceania: Australia 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.

Discover the latest trends in the Australian iron ores and concentrates market as demand continues to rise. Forecasts show market performance is expected to grow steadily over the next decade, with volume reaching 1,804M tons and value reaching $185.8B by 2035.

Australia Commodity Price Index: Weights: Other Resources: Iron Ore data was reported at 20.800 % in Feb 2013. This stayed constant from the previous number of 20.800 % for Jan 2013. Australia Commodity Price Index: Weights: Other Resources: Iron Ore data is updated monthly, averaging 20.800 % from Feb 2008 (Median) to Feb 2013, with 61 observations. The data reached an all-time high of 21.800 % in Aug 2009 and a record low of 20.800 % in Feb 2013. Australia Commodity Price Index: Weights: Other Resources: Iron Ore data remains active status in CEIC and is reported by Reserve Bank of Australia. The data is categorized under Global Database’s Australia – Table AU.I051: Commodity Price Index: Weights (Old).

The size of the Iron Ore Market was valued at USD 278.44 billion in 2023 and is projected to reach USD 306.90 billion by 2032, with an expected CAGR of 1.4 % during the forecast period. Iron ore market has been a significant component of the world mining industry, as iron ore has been constantly in demand as a raw material used in steel production. Iron ore remains essential in the production of high-quality steel, which is used to make everything from buildings and bridges to automobiles and machinery, and hence it remains the backbone of the global construction, automotive, infrastructure, and manufacturing sectors. The market is influenced by trends in steel production, and some of the largest consumers of iron ore are China, India, and Japan, whose massive steel industries drive up the demand for these commodities. The global iron ore market is highly subject to demand fluctuations, which are often linked to the global economic conditions. For instance, during the expansionary phases of the economy, especially in emerging economies, steel demand increases, thereby driving up iron ore prices. Conversely, during the slowdown phases of the economy, demand for steel—and consequently iron ore—may decline. Production and supply chain dynamics also influence the market. Preeminent producers in the global marketplace, Australia, Brazil, and India are also leaders in supply. Recent developments include: In April 2024, Australia-based Strike Resources Limited, an iron ore company, completed its negotiations to sell its Pilbara Paulsens East Iron Ore Project to Australia-based Miracle Iron Holdings for ~USD 13.4 million (A$ 20.5 million). .

Exports of Iron Ore & Concentrates in Australia decreased to 10522 AUD Million in February from 12488 AUD Million in January of 2024. This dataset includes a chart with historical data for Australia Exports of Iron Ore & Concentrates.

Get the latest insights on price movement and trend analysis of Iron Ore in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Discover the latest forecast on the Australian iron ores and concentrates market, with an expected upward consumption trend for the next decade. Market performance is predicted to grow steadily, reaching 1,806M tons in volume and $207.7B in value by 2035.

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.

In the financial year 2024, the export value of iron ore and its concentrates from Australia was approximately ***** billion Australian dollars. The value of iron ore exports has grown significantly over the past decade, with iron ore being one of the leading export commodities in the country.

Australia GVA: 2018-19p: sa: Mining: Iron Ore data was reported at 16,413.000 AUD mn in Jun 2021. This records an increase from the previous number of 16,262.000 AUD mn for Mar 2021. Australia GVA: 2018-19p: sa: Mining: Iron Ore data is updated quarterly, averaging 3,610.500 AUD mn from Sep 1985 (Median) to Jun 2021, with 144 observations. The data reached an all-time high of 16,509.000 AUD mn in Sep 2020 and a record low of 1,258.000 AUD mn in Dec 1988. Australia GVA: 2018-19p: sa: Mining: Iron Ore data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.A210: SNA08: Gross Value Added: by Industry: Chain Linked: 2018-19 Price: Seasonally Adjusted.

Revenue is forecast to contract at a compound annual rate of 8.2% over the five years through 2024 to €9.1 billion. The pandemic contributed to significant disruption in iron ore miners’ downstream markets. As China is the largest consumer of iron ore, their strict COVID restrictions hindered demand, limiting recovery over 2021 and constraining revenue growth for the period. European iron ore miners also contend with significant competition from large foreign miners, like those in Australia and Brazil – the world’s largest iron ore producers. Despite recovering industrial activity in Europe, weak economic conditions (epitomised by an inflationary environment and interest rate hikes) have continued to hinder downstream activity, limiting revenue growth. However, steady growth in the price of iron ore has aided revenue and supported expanding profitability. Forecast revenue dip of 2.9% in 2024 can be partially attributed to iron ore imports from Chinese steel makers climbing by 6.7% over the nine months through September 2023, compared with the same period in the previous year, according to GMK Centre. However, rising iron ore production in China and significant competition with Australian producers have limited the positive impact. Revenue is expected to climb at a compound annual rate of 4.3% over the five years through 2029 to €11.2 billion. Recovering economic conditions will spur renewed demand for iron ore as activity levels support demand from European industries. Large iron ore miners will continue to dominate the market due to the significant capital requirements needed to set up iron ore mining operations.