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.

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.

India Iron Ore: Average Sale Price: Fines: 58 - 60% Fe data was reported at 3,714.000 INR/Ton in Feb 2025. This records a decrease from the previous number of 3,786.000 INR/Ton for Jan 2025. India Iron Ore: Average Sale Price: Fines: 58 - 60% Fe data is updated monthly, averaging 1,988.000 INR/Ton from Feb 2011 (Median) to Feb 2025, with 169 observations. The data reached an all-time high of 4,775.000 INR/Ton in Aug 2021 and a record low of 819.000 INR/Ton in Dec 2015. India Iron Ore: Average Sale Price: Fines: 58 - 60% Fe data remains active status in CEIC and is reported by Indian Bureau of Mines. The data is categorized under India Premium Database’s Metal and Steel Sector – Table IN.WAC009: Iron Ore Average Sale Price.

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.

In August 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.

This dataset includes real-time and historical Iron Ore prices, global market insights, trading data, and demand forecasts provided by Bigmint.

This table contains 3 series, with data for years 1971 - 1985 (not all combinations necessarily have data for all years), and was last released on 2000-02-19. This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), Price index (3 items: Total; iron ore index; Iron ore; domestic; Iron ore; export ...).

India Iron Ore: Average Sale Price: Fines: 55 - 58% Fe data was reported at 3,484.000 INR/Ton in Feb 2025. This records an increase from the previous number of 3,463.000 INR/Ton for Jan 2025. India Iron Ore: Average Sale Price: Fines: 55 - 58% Fe data is updated monthly, averaging 1,556.000 INR/Ton from Feb 2011 (Median) to Feb 2025, with 168 observations. The data reached an all-time high of 4,483.000 INR/Ton in Feb 2024 and a record low of 619.000 INR/Ton in Jan 2016. India Iron Ore: Average Sale Price: Fines: 55 - 58% Fe data remains active status in CEIC and is reported by Indian Bureau of Mines. The data is categorized under India Premium Database’s Metal and Steel Sector – Table IN.WAC009: Iron Ore Average Sale Price.

Iron ore miners are highly susceptible to changes in industrial production. This is why iron ore miners were significantly impacted at the start of the period because of the pandemic. Steel production took a nosedive and many mines shut down temporarily. As the economy recovered, miners saw triple-digit growth in 2021, since steel prices skyrocketed amid supply chain constraints. This allowed industry revenue to remain elevated for the rest of the period. From 2022 to 2024, while production began to climb after an initial dip at the start of 2022, prices plummeted as supply chain issues waned, causing revenue to fall. Overall, revenue for iron ore miners has been swelling at a CAGR of 7.5% over the past five years and is set to reach $5.3 billion in 2025, where revenue is set to plummet by 5.5%. While revenue strengthened during the period because of price hikes, miners experienced dips in profit after 2021, primarily because purchase costs continued to climb. Rising fuel costs, driven by surges in oil prices, have eaten into profit as miners now must pay extra to transport ore. While wage costs will come down from historical figures, they are set to go up slightly after 2021 as iron ore miners hire and train staff to use new equipment and technology. Looking ahead, iron ore miners will feel the impact of falling prices. Nonetheless, they are set to maintain a steady revenue stream from downstream markets. The Bipartisan Infrastructure Law, which requires that all iron ore and steel used in federally funded projects be made in the US, should help sustain the need for domestic iron ore. While infrastructure construction will continue to support consistent revenue, recent executive orders halting the construction of offshore wind projects and electric vehicle charging stations are set to dampen market growth. Overall, revenue is set to dip at a CAGR of 0.2% through 2030, reaching $5.3 billion.

The global DR-Grade Iron Ore Pellets market is experiencing robust growth, driven by the increasing demand from the steel industry, particularly in developing economies experiencing rapid infrastructure development. This demand surge is fueled by the superior quality and consistent metallurgical properties of DR-grade pellets, which enhance steel production efficiency and reduce costs compared to other iron ore forms. Major steel producers are increasingly adopting DR-grade pellets to meet stricter environmental regulations and improve the overall quality of their steel products. Furthermore, technological advancements in pelletization processes are leading to higher production efficiency and lower costs, further stimulating market expansion. The market is characterized by a high degree of consolidation, with major players like Vale, Rio Tinto, and BHP accounting for a significant share of global production. However, the market also witnesses competition from smaller regional players, particularly in Asia. While geopolitical factors and fluctuating iron ore prices represent challenges, the long-term outlook for the DR-grade iron ore pellet market remains positive, underpinned by consistent demand and ongoing investments in steel production capacity globally. The forecast period (2025-2033) anticipates sustained growth, propelled by factors such as infrastructural projects in emerging markets, the ongoing shift towards higher-quality steel products, and the implementation of cleaner production technologies. However, potential restraints include price volatility in raw materials, environmental concerns related to iron ore mining, and potential disruptions in global supply chains. Regional market dynamics vary; for instance, Asia-Pacific is anticipated to maintain its dominant position due to its robust steel industry, while North America and Europe are projected to exhibit steady growth driven by domestic steel production and infrastructure investments. Strategic partnerships, mergers, and acquisitions are likely to reshape the market landscape, potentially leading to increased consolidation among key players. Companies are likely to focus on improving operational efficiency, expanding their production capacity, and diversifying their geographic presence to capitalize on emerging opportunities within this expanding market.

China Port: Lump Sum Price Index: Bulk & General Freight: Domestic Trade: Iron Ore & Powder (Bulk) data was reported at 117.070 Sep2006=100 in Jan 2015. This stayed constant from the previous number of 117.070 Sep2006=100 for Dec 2014. China Port: Lump Sum Price Index: Bulk & General Freight: Domestic Trade: Iron Ore & Powder (Bulk) data is updated monthly, averaging 115.780 Sep2006=100 from Feb 2008 (Median) to Jan 2015, with 84 observations. The data reached an all-time high of 118.920 Sep2006=100 in Jan 2012 and a record low of 101.000 Sep2006=100 in Jul 2009. China Port: Lump Sum Price Index: Bulk & General Freight: Domestic Trade: Iron Ore & Powder (Bulk) data remains active status in CEIC and is reported by Ministry of Transport. The data is categorized under China Premium Database’s Transportation and Storage Sector – Table CN.TH: Waterway: Port Lump Sum Price Index.

This table contains 3 series, with data for years 1971 - 1985 (not all combinations necessarily have data for all years), and was last released on 2000-02-18. This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), Price index (3 items: Total; iron ore index; Iron ore; export; Iron ore; domestic ...).

Manganese traded flat at 29.65 CNY/mtu on October 17, 2025. Over the past month, Manganese's price has fallen 0.67%, and is down 1.98% 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 October of 2025.

Brazil Contribution to GDP: Iron Ore Extraction data was reported at 0.401 % in 2016. This records a decrease from the previous number of 0.464 % for 2015. Brazil Contribution to GDP: Iron Ore Extraction data is updated yearly, averaging 1.105 % from Dec 2010 (Median) to 2016, with 7 observations. The data reached an all-time high of 1.395 % in 2011 and a record low of 0.401 % in 2016. Brazil Contribution to GDP: Iron Ore Extraction data remains active status in CEIC and is reported by Brazilian Institute of Geography and Statistics. The data is categorized under Brazil Premium Database’s National Accounts – Table BR.AB020: SNA 2008: Contribution to Gross Domestic Product: by Activities: Current Price.

Turkey D-PPI: MQ: MO: Iron Ores data was reported at 752.930 2003=100 in Nov 2018. This records a decrease from the previous number of 766.460 2003=100 for Oct 2018. Turkey D-PPI: MQ: MO: Iron Ores data is updated monthly, averaging 190.340 2003=100 from Jan 1994 (Median) to Nov 2018, with 299 observations. The data reached an all-time high of 791.090 2003=100 in Sep 2018 and a record low of 0.666 2003=100 in Apr 1994. Turkey D-PPI: MQ: MO: Iron Ores data remains active status in CEIC and is reported by Turkish Statistical Institute. The data is categorized under Global Database’s Turkey – Table TR.I016: Domestic Producer Price Index: 2003=100.

Steel rose to 3,043 CNY/T on October 21, 2025, up 0.50% from the previous day. Over the past month, Steel's price has fallen 1.68%, and is down 5.96% compared to the same time last year, 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 October of 2025.

Molybdenum and metal ore miners have exhibited constant shifts in revenue as commodity prices have fluctuated amid global supply and demand conditions. While revenue slid during the pandemic as mines were temporarily idled or operating at limited capacity, an economic recovery quickly helped miners bounce back. Massive commodity price jumps in molybdenum and platinum have bolstered revenue as steel and automobile manufacturing markets require these metals. Nonetheless, this hike was cut short as prices fell drastically starting in 2024 as supply chain issues waned, leading to a mass surplus. Even so, profitability has remained steady as miners scaled back production to adjust for lower demand. Overall, revenue is set to climb at a CAGR of 1.6% to an estimated $1.6 billion through the end of 2025. Revenue will dip 6.6% in 2025 as molybdenum prices push down further because of a supply surplus and lower demand. Exports have also been a big help to manufacturers, particularly molybdenum, since the US is one of the five largest producers in the world. Molybdenum, crucial for steel production and with few substitutes, is in high demand in many foreign countries for rapid urbanization projects. This caused export levels to soar, even as an appreciating US dollar has made domestic goods more expensive abroad. Nonetheless, recent retaliatory tariffs placed by Canada may cause exports to the country to drop, dealing a huge blow to miners. Revenue will push up as commodity prices swell or remain steady, offering a consistent revenue stream. The domestic and international construction markets, which slowed down late in the period, will recover, presenting new opportunities for miners. Domestic uranium production, which saw a boost in late 2024, will continue to push up as the country ramps up to meet the rising need for nuclear power to help bring data centers online to address the swelling popularity of artificial intelligence. Molybdenum will also be a hot commodity as domestic solar panel manufacturing is set to expand and the metal is essential for producing thin solar panels. Overall, revenue is set to expand at a CAGR of 0.3% to $1.6 billion through the end of 2030.

Finland DSPI: incl Taxes: Weights: MQ: MO: Iron Ores data was reported at 1.300 Per 1000 in 2020. This records a decrease from the previous number of 1.500 Per 1000 for 2019. Finland DSPI: incl Taxes: Weights: MQ: MO: Iron Ores data is updated yearly, averaging 1.400 Per 1000 from Dec 2015 (Median) to 2020, with 6 observations. The data reached an all-time high of 1.500 Per 1000 in 2019 and a record low of 1.300 Per 1000 in 2020. Finland DSPI: incl Taxes: Weights: MQ: MO: Iron Ores data remains active status in CEIC and is reported by Statistics Finland. The data is categorized under Global Database’s Finland – Table FI.I027: Domestic Supply Price Index: 2015=100: Weights.

New Zealand’s Iron Ore Mining industry has faced significant challenges following a sharp fall in iron ore prices from 2021-22 peaks. These declines have resulted from increased global supply, especially from Brazil and weakened demand from China’s construction and property sectors. While domestic steel demand has been relatively resilient, supported by infrastructure projects, high inflation and rising interest rates have pressured construction activity. Export demand, historically reliant on China, has diminished as China’s construction sector softened, further increasing external pressures. The industry remains highly concentrated, dominated by New Zealand Steel Limited and Taharoa Mining Investment Limited, both operating distinct mines with different iron content and market focuses. High entry barriers, complex regulatory approval processes and growing environmental activism discourage new entrants. Overall, falling iron ore prices, combined with rising operational costs, have squeezed profit margins. Overall, revenue is anticipated to fall at an annualised 4.1% over the five years through 2025-26, to $220.0 million. This includes an expected plunge of 4.6% in 2025-26 as iron ore prices soften.

Iron ore prices are expected to continue to decline over the next five years as global supply increases, particularly with the ramp-up of major projects in Australia, Brazil and Africa, including the Simandou iron ore project. This oversupply, combined with weaker Chinese construction demand, is likely to suppress industry-wide revenue and intensify competition, especially for export-focused operators like Taharoa. Domestically, demand for steel is forecast to grow as interest rates fall and infrastructure investment increases, helping to partially offset falling export revenue and supporting integrated producer New Zealand Steel. New offshore mining projects, like Trans-Tasman Resources’ South Taranaki Bight venture, could present growth opportunities if regulatory approval is secured, shaping the industry’s outlook. Revenue is forecast to decline at an annualised 0.7% through the end of 2030-31, to total $212.6 million.

Contribution to GDP: Iron Ore Extraction在2016达0.401 %，相较于2015的0.464 %有所下降。Contribution to GDP: Iron Ore Extraction数据按每年更新，2010至2016期间平均值为1.105 %，共7份观测结果。该数据的历史最高值出现于2011，达1.395 %，而历史最低值则出现于2016，为0.401 %。CEIC提供的Contribution to GDP: Iron Ore Extraction数据处于定期更新的状态，数据来源于Brazilian Institute of Geography and Statistics，数据归类于Brazil Premium Database的National Accounts – Table BR.AB020: SNA 2008: Contribution to Gross Domestic Product: by Activities: Current Price。