Iron Ore fell to 94.47 USD/T on June 30, 2025, down 0.02% from the previous day. Over the past month, Iron Ore's price has fallen 1.54%, and is down 12.53% 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 July of 2025.

Iron Ore CNY rose to 716.50 CNY/T on June 27, 2025, up 2.36% from the previous day. Over the past month, Iron Ore CNY's price has risen 2.43%, but it is still 13.15% 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 Export Price: Iron Ore & Concentrate data was reported at 109.821 USD/Ton in Mar 2025. This records an increase from the previous number of 101.512 USD/Ton for Feb 2025. China Export Price: Iron Ore & Concentrate data is updated monthly, averaging 135.109 USD/Ton from Jan 2008 (Median) to Mar 2025, with 205 observations. The data reached an all-time high of 1,112.560 USD/Ton in Feb 2015 and a record low of 57.833 USD/Ton in Jan 2010. China Export Price: Iron Ore & Concentrate 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.

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.

CN: China Iron Ore Price Index (CIOPI) data was reported at 244.040 Apr1994=100 in 06 Dec 2018. This records a decrease from the previous number of 247.840 Apr1994=100 for 05 Dec 2018. CN: China Iron Ore Price Index (CIOPI) data is updated daily, averaging 245.480 Apr1994=100 from Sep 2011 (Median) to 06 Dec 2018, with 1327 observations. The data reached an all-time high of 596.870 Apr1994=100 in 09 Sep 2011 and a record low of 148.990 Apr1994=100 in 16 Dec 2015. CN: China Iron Ore Price Index (CIOPI) data remains active status in CEIC and is reported by China Iron and Steel Association. The data is categorized under China Premium Database’s Price – Table CN.PG: China Iron Ore Price Index (CIOPI): Daily.

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.

China Import Price: Iron Ore & Concentrate: Asia: Pakistan data was reported at 75.543 USD/Ton in Mar 2025. This records a decrease from the previous number of 79.703 USD/Ton for Feb 2025. China Import Price: Iron Ore & Concentrate: Asia: Pakistan data is updated monthly, averaging 70.210 USD/Ton from Feb 2008 (Median) to Mar 2025, with 165 observations. The data reached an all-time high of 167.877 USD/Ton in Aug 2008 and a record low of 28.084 USD/Ton in Dec 2017. China Import Price: Iron Ore & Concentrate: Asia: Pakistan 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.

Graph and download economic data for Global price of Iron Ore (PIORECRUSDM) from Jan 1990 to May 2025 about ore, iron, World, and price.

Iron ore prices are experiencing pressure due to speculation over China's potential steel production control, affecting market dynamics.

In May 2025, approximately ***** million metric tons of crude iron ore was extracted in China. Iron ore mining in China As the world's largest iron ore importing country since 2014, China's iron ore imports amount to over *** billion metric tons every year to meet its demand. Cutbacks in 2014 were likely the result of decreasing iron ore prices around the world, which fell from a high of 168 U.S. dollars per dry metric ton in 2011 to a low of an estimated 55 U.S. dollars in 2015. Iron ore prices have gradually recovered to the levels of 2014, standing at ***** U.S. dollars per dry metric ton as of 2023. China's steel industry Despite iron ore mining cutbacks in China and fluctuating prices, the price of steel, which is made from iron ore, has remained stable. China has remained the world’s largest crude steel producer. Among the twenty leading steelmakers worldwide, eleven are from China. As the largest crude steel producer in the world, Baowu Steel Group is state-owned and is the largest steel company in China. In 2022, Baowu Steel Group generated a revenue of over **** trillion yuan.

China Import Price: Iron Ore & Concentrate: Africa: Mauritania data was reported at 105.120 USD/Ton in Mar 2025. This records an increase from the previous number of 90.108 USD/Ton for Feb 2025. China Import Price: Iron Ore & Concentrate: Africa: Mauritania data is updated monthly, averaging 103.268 USD/Ton from Jan 2008 (Median) to Mar 2025, with 204 observations. The data reached an all-time high of 207.346 USD/Ton in Aug 2021 and a record low of 36.169 USD/Ton in Jan 2016. China Import Price: Iron Ore & Concentrate: Africa: Mauritania 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.

Explore the dynamics of China's iron ore price chart, a vital tool reflecting the volatility and trends in the commodities market influenced by global and domestic factors. Learn how China's demand shifts and policies impact global prices, offering insights into potential market movements for investors and analysts.

Explore the factors influencing iron ore prices in China, including domestic demand from its steel industry, supply chain disruptions, global economic conditions, and market speculation. Learn about the impact of government policies and where to find live pricing updates.

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Iron Ore Market Size 2025-2029

The iron ore market size is forecast to increase by USD 60.9 billion, at a CAGR of 3.3% between 2024 and 2029.

The market is experiencing significant growth, driven primarily by the increasing consumption of high-strength iron ore in the production of stainless steel. The economic expansion in major consumers China and India is fueling this demand, as both countries continue to invest heavily in infrastructure projects and industrial development. However, this market is characterized by high capital requirements, making it a challenging landscape for new entrants. The need for substantial investment in mining and processing facilities, as well as the rising costs of exploration and extraction, pose significant obstacles for companies seeking to capitalize on market opportunities.
Despite these challenges, the potential rewards are substantial, with the ongoing demand for steel and iron ore showing no signs of abating. To navigate these challenges effectively, market participants must stay abreast of the latest trends and developments, including advancements in mining technology and the adoption of sustainable mining practices. Companies that can navigate these challenges effectively, through strategic partnerships, technological innovation, and operational efficiency, are well-positioned to thrive in this dynamic market.

What will be the Size of the Iron Ore Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market continues to exhibit dynamic and evolving characteristics, with various sectors and processes interconnected in intricate ways. Stainless steel, a high-performance alloy, relies on resource estimation and the availability of low-grade iron ore for its production. Waste management plays a crucial role in the mining process, with iron ore mining and mine planning requiring effective strategies to minimize environmental impact. Metallurgical coke, a vital ingredient in steelmaking, is produced through mineral processing and supplied through the complexities of supply chain management. Plate steel, a major application of iron ore, is manufactured using continuous casting and hot rolling, while electric arc furnaces and blast furnaces transform iron ore pellets and pig iron into various steel grades.

Sponge iron, an alternative to traditional ironmaking, is produced through direct reduction, offering potential for reduced carbon footprint. Mine safety, mine closure, and geological surveys are essential aspects of the industry, ensuring efficient and sustainable operations. The market is influenced by commodity markets, geopolitical factors, and environmental regulations. Port handling, rail transport, and sea transport are integral to the logistics of moving raw materials and finished products. Steel production, from open-pit mining to underground mining and from pellet production to pipe steel manufacturing, is a continuous process that adapts to changing market conditions. Futures contracts and quality control are essential tools for managing risk and ensuring consistency in the supply chain.

The ongoing evolution of the market is shaped by the interplay of these various sectors and processes, with each influencing the other in a complex web of interdependencies.

How is this Iron Ore Industry segmented?

The iron ore industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Fines
  Pellets
  Lump
  HBI/DRI


Source

  Surface mining
  Underground mining


End-use

  Steel Manufacturers
  Construction Industry
  Automotive Industry


Application

  Steelmaking
  Construction
  Automotive
  Others
  Non-Steel Applications


Production Process

  Blast Furnace (BF)
  Direct Reduced Iron (DRI)


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Product Insights

The fines segment is estimated to witness significant growth during the forecast period.

Iron ore fines, the crushed form of high-grade iron ore, play a crucial role in the steel production process. Due to their small particle size, they cannot be directly used in blast furnaces as they obstruct the airflow. Instead, they undergo a process called sintering. In this process, fines are mixed with other materials such as pig iron, metallurgical coke, and limestone to form sinter. The use of iron ore fines in sintering allows for better control of the iron ore and

China Import Price: Iron Ore & Concentrate: Africa: S. Africa data was reported at 105.225 USD/Ton in Mar 2025. This records a decrease from the previous number of 107.462 USD/Ton for Feb 2025. China Import Price: Iron Ore & Concentrate: Africa: S. Africa data is updated monthly, averaging 111.744 USD/Ton from Jan 2008 (Median) to Mar 2025, with 205 observations. The data reached an all-time high of 215.370 USD/Ton in Aug 2021 and a record low of 49.145 USD/Ton in Mar 2016. China Import Price: Iron Ore & Concentrate: Africa: S. Africa 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.

Explore the factors influencing iron ore prices, a vital component in global steel production, including demand in China, supply disruptions, and geopolitical tensions. Stay updated on current market trends, supply chain shifts, regulatory changes, and more for informed investment and manufacturing decisions.

Learn about the various factors influencing the current market price of iron ore, including global demand, production levels, and geopolitical events. Understand the role of major steel-producing countries like China, production levels of key exporters like Australia and Brazil, and the impact of geopolitical events on iron ore prices. Stay informed to make strategic investment decisions in the volatile iron ore market.

China Settlement Price: Dalian Commodity Exchange: Iron Ore: 1st Month data was reported at 790.000 RMB/Ton in Apr 2025. This records a decrease from the previous number of 808.500 RMB/Ton for Mar 2025. China Settlement Price: Dalian Commodity Exchange: Iron Ore: 1st Month data is updated monthly, averaging 720.000 RMB/Ton from Oct 2013 (Median) to Apr 2025, with 139 observations. The data reached an all-time high of 1,346.000 RMB/Ton in Jul 2021 and a record low of 329.500 RMB/Ton in Feb 2016. China Settlement Price: Dalian Commodity Exchange: Iron Ore: 1st Month data remains active status in CEIC and is reported by Dalian Commodity Exchange. The data is categorized under China Premium Database’s Financial Market – Table CN.ZB: Dalian Commodity Exchange: Commodity Futures: Settlement Price.

In 2023, an estimated 280 million metric tons of iron ore was extracted in China. China is the third-largest producer of iron ore in the world.

Global iron ore prices fell last week due to weakening demand from China, with significant drops on major exchanges. Future prices are projected to remain volatile.