Iron Ore rose to 99.07 USD/T on July 30, 2025, up 0.09% from the previous day. Over the past month, Iron Ore's price has risen 6.06%, but it is still 6.48% 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.

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.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Cast Iron Scrap (WPU10121308) from Jan 2004 to Jun 2025 about iron, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Iron Ores (WPU10110555) from Dec 1997 to Jun 2025 about ore, iron, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

Iron and steel scrap prices in the United States stood at around *** U.S. dollars per metric ton in 2024, down from *** dollars per ton a year earlier. This is the fourth consecutive annual decrease recorded. Steel scrap consumption The majority of domestic steel industry scrap consumption is from manufacturers of raw steel, and steel castings. These raw materials are used to produce steel products that are used for appliances, construction, machinery, and transportation, among other industry uses. Only small amounts of steel scrap were used for the production of ferroalloys, copper precipitation, and the chemical industry. Recycling scrap Recycled iron and steel scrap materials have been essential for the production of new steel and cast iron products. Vehicles are one of the largest sources of old steel scrap used for recycling and nearly 100 percent of cars are recycled for their scrap material. It is expected that the recycling rate for scrap materials from appliances and construction purposes should rise, especially as public interest for recycling grows and profitability increases.

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.

India Iron Ore: Average Sale Price: Lumps: 62 - 65% Fe data was reported at 4,062.000 INR/Ton in Aug 2018. This records a decrease from the previous number of 4,097.000 INR/Ton for Jul 2018. India Iron Ore: Average Sale Price: Lumps: 62 - 65% Fe data is updated monthly, averaging 3,812.000 INR/Ton from Aug 2009 (Median) to Aug 2018, with 109 observations. The data reached an all-time high of 5,979.000 INR/Ton in Jun 2012 and a record low of 1,099.000 INR/Ton in Oct 2009. India Iron Ore: Average Sale Price: Lumps: 62 - 65% 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.WAC016: Iron Ore Average Sale Price.

The producer price index for iron and steel metals and metal products in the United States fell between 2018 and 2020. Prices for steel commodities in particular have fluctuated over the ***** due to uncertain markets and international diplomacy.

Iron Ore: Average Sale Price: Fines: 60 - 62% Fe: Orissa data was reported at 4,537.000 INR/Ton in Dec 2024. This records a decrease from the previous number of 4,674.000 INR/Ton for Nov 2024. Iron Ore: Average Sale Price: Fines: 60 - 62% Fe: Orissa data is updated monthly, averaging 1,547.000 INR/Ton from Feb 2011 (Median) to Dec 2024, with 167 observations. The data reached an all-time high of 6,750.000 INR/Ton in Aug 2021 and a record low of 670.000 INR/Ton in Apr 2016. Iron Ore: Average Sale Price: Fines: 60 - 62% Fe: Orissa 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.

United States - Producer Price Index by Commodity: Metals and Metal Products: Cast Iron Scrap was 269.91800 Index Dec 1986=100 in June of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Metals and Metal Products: Cast Iron Scrap reached a record high of 442.73500 in April of 2022 and a record low of 99.30000 in January of 1987. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Metals and Metal Products: Cast Iron Scrap - last updated from the United States Federal Reserve on July of 2025.

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.

Iran Export Price Index: Base Metals & Base Metal Articles: Iron or Steel Articles data was reported at 661.300 Apr1997-Mar1998=100 in Mar 2009. This records an increase from the previous number of 660.900 Apr1997-Mar1998=100 for Feb 2009. Iran Export Price Index: Base Metals & Base Metal Articles: Iron or Steel Articles data is updated monthly, averaging 666.800 Apr1997-Mar1998=100 from May 2007 (Median) to Mar 2009, with 23 observations. The data reached an all-time high of 1,089.600 Apr1997-Mar1998=100 in Oct 2008 and a record low of 595.300 Apr1997-Mar1998=100 in Jan 2009. Iran Export Price Index: Base Metals & Base Metal Articles: Iron or Steel Articles data remains active status in CEIC and is reported by Central Bank of the Islamic Republic of Iran. The data is categorized under Global Database’s Iran – Table IR.I029: Export Price Index: April 97-March 98=100.

Iron Ore: Average Sale Price: Fines: 65% Fe & Above: Orissa data was reported at 4,774.000 INR/Ton in Dec 2024. This records an increase from the previous number of 4,674.000 INR/Ton for Nov 2024. Iron Ore: Average Sale Price: Fines: 65% Fe & Above: Orissa data is updated monthly, averaging 2,166.000 INR/Ton from Aug 2009 (Median) to Dec 2024, with 163 observations. The data reached an all-time high of 8,500.000 INR/Ton in Aug 2021 and a record low of 683.000 INR/Ton in Dec 2009. Iron Ore: Average Sale Price: Fines: 65% Fe & Above: Orissa 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.

The 2020 coronavirus (Covid-19) pandemic has had a noteworthy impact on commodities prices, including metals such as iron ore. The impact of Covid-19 on the global iron ore industry is apparent from the decline in the average year-to-date price of iron ore as of May 2020 (***** U.S. dollars per metric ton) as compared to the average price in 2019 (***** U.S. dollars per metric ton). Compared to other metals, however, iron ore prices have stayed relatively resilient, and are expected to recover further during 2020 once China's steel production increases again.

United States - Producer Price Index by Commodity: Metals and Metal Products: Ductile Iron Castings for All Other Uses was 142.08800 Index Jun 2012=100 in September of 2023, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Metals and Metal Products: Ductile Iron Castings for All Other Uses reached a record high of 143.34400 in June of 2023 and a record low of 99.80000 in July of 2012. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Metals and Metal Products: Ductile Iron Castings for All Other Uses - last updated from the United States Federal Reserve on August of 2025.

Metal and Steel Price: Delhi: Pig Iron LM Gr. IV data was reported at 46,020.000 INR/Metric Ton in Apr 2025. This records a decrease from the previous number of 46,610.000 INR/Metric Ton for Mar 2025. Metal and Steel Price: Delhi: Pig Iron LM Gr. IV data is updated monthly, averaging 32,800.000 INR/Metric Ton from Aug 2003 (Median) to Apr 2025, with 255 observations. The data reached an all-time high of 73,750.000 INR/Metric Ton in Apr 2022 and a record low of 13,600.000 INR/Metric Ton in Sep 2003. Metal and Steel Price: Delhi: Pig Iron LM Gr. IV data remains active status in CEIC and is reported by Joint Plant Committee. The data is categorized under India Premium Database’s Metal and Steel Sector – Table IN.WAC008: Metal and Steel Retail Prices: New Delhi: Monthly.

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.

United States - Producer Price Index by Commodity: Metals and Metal Products: Iron and Steel was 309.51000 Index 1982=100 in June of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Metals and Metal Products: Iron and Steel reached a record high of 443.73100 in November of 2021 and a record low of 29.30000 in February of 1967. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Metals and Metal Products: Iron and Steel - last updated from the United States Federal Reserve on July of 2025.

United States - Producer Price Index by Commodity: Metals and Metal Products: Pressure Pipe and Fittings, Cast Iron was 140.15500 Index Dec 2011=100 in September of 2023, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Metals and Metal Products: Pressure Pipe and Fittings, Cast Iron reached a record high of 144.47400 in July of 2023 and a record low of 95.80000 in January of 2017. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Metals and Metal Products: Pressure Pipe and Fittings, Cast Iron - last updated from the United States Federal Reserve on August of 2025.