Iron Ore rose to 97.84 USD/T on July 21, 2025, up 0.64% from the previous day. Over the past month, Iron Ore's price has risen 3.26%, but it is still 9.54% 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.

Explore the dynamics of iron ore price futures, their role in the global steel production industry, and the key factors influencing prices, including demand from China, global economic trends, currency fluctuations, and environmental regulations.

This statistic depicts the average annual prices for iron ore from 2014 through 2023, with forecasted figures for 2024 to 2026. In 2023, the average price for iron ore stood at 120.6 nominal U.S. dollars per dry metric ton.

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 Global price of Iron Ore (PIORECRUSDM) from Jan 1990 to Jun 2025 about ore, iron, World, and price.

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).

Iron Ore CNY fell to 785 CNY/T on July 18, 2025, down 1.57% from the previous day. Over the past month, Iron Ore CNY's price has risen 12.22%, but it is still 2.42% 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 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.

Explore the factors influencing iron ore prices, from demand in major steel-producing countries to supply disruptions, and understand the historical fluctuations in pricing, including the impact of the COVID-19 pandemic, and what factors may shape future price movements.

China Settlement Price: Dalian Commodity Exchange: Iron Ore: 4th Month data was reported at 734.500 RMB/Ton in Apr 2025. This records a decrease from the previous number of 770.500 RMB/Ton for Mar 2025. China Settlement Price: Dalian Commodity Exchange: Iron Ore: 4th Month data is updated monthly, averaging 699.000 RMB/Ton from Oct 2013 (Median) to Apr 2025, with 139 observations. The data reached an all-time high of 1,178.000 RMB/Ton in Apr 2021 and a record low of 324.000 RMB/Ton in Jan 2016. China Settlement Price: Dalian Commodity Exchange: Iron Ore: 4th 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.

Iron ore prices in June 2025 saw fluctuations with September futures on the DCE slightly decreasing, while July contracts on the Singapore Exchange faced more pressure. Despite weak Chinese demand, market stability signs and potential seasonal recovery were observed.

Iron Ore 62% fe stock price, live market quote, shares value, historical data, intraday chart, earnings per share and news.

Explore the multifaceted factors influencing international iron ore prices, including demand from the steel industry, supply conditions in leading exporting countries, macroeconomic trends, and speculative activities. Understand how these elements affect market dynamics, historical trends, and future developments.

Explore the current trends affecting iron ore prices, including global demand, production disruptions, and economic conditions. Understand how major factors like construction slowdowns and geopolitical shifts impact the market, with insights from experts on the future price outlook.

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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

Manganese traded flat at 29.45 CNY/mtu on July 18, 2025. Over the past month, Manganese's price has risen 0.34%, but it is still 14.01% lower than a year ago, 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 July of 2025.

Steel traded flat at 3,255 CNY/T on July 23, 2025. Over the past month, Steel's price has risen 10.30%, and is up 2.20% 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 July of 2025.

The global iron ore fines market is a substantial industry, exhibiting robust growth driven by the burgeoning construction and steelmaking sectors. While precise market size figures aren't provided, considering the involvement of major players like Vale, Rio Tinto, and BHP, and the substantial demand from rapidly developing economies in Asia-Pacific (particularly China and India), a conservative estimate for the 2025 market size would be in the range of $150-200 billion USD. The Compound Annual Growth Rate (CAGR) remains a key indicator of future market expansion. Assuming a moderate CAGR of 4-5%, projected for the forecast period (2025-2033), the market is poised for significant expansion. Key drivers include increasing infrastructure development globally, rising steel production, and the growth of manufacturing industries. However, market restraints include fluctuating iron ore prices subject to geopolitical factors, environmental concerns regarding mining practices, and potential disruptions to supply chains. The market segmentation by application (steelmaking, construction, chemicals) and type (iron content percentage) reveals distinct market dynamics. Steelmaking accounts for the lion's share of demand, while higher iron content fines command premium prices. Regional analysis suggests Asia-Pacific holds the dominant market share, owing to its robust industrial activity and extensive construction projects, followed by North America and Europe. The competitive landscape is dominated by a few large multinational mining companies, indicating a consolidated market structure. These companies are constantly engaged in optimizing production, expanding operations, and exploring new technologies to improve efficiency and reduce costs. Further growth is expected to be fueled by investments in sustainable mining practices and technological advancements in ore extraction and processing. Companies are also focusing on securing long-term supply contracts to mitigate price volatility and ensure a stable supply to their customers. The market's future trajectory will be influenced by factors such as global economic growth, government policies regarding infrastructure development, and technological innovations within the mining and steel industries. The forecast period (2025-2033) is projected to witness continuous growth, though the exact rate will depend on the interplay of these diverse market dynamics.

China Settlement Price: Dalian Commodity Exchange: Iron Ore: 2nd Month data was reported at 760.000 RMB/Ton in 13 May 2025. This records an increase from the previous number of 751.500 RMB/Ton for 12 May 2025. China Settlement Price: Dalian Commodity Exchange: Iron Ore: 2nd Month data is updated daily, averaging 707.500 RMB/Ton from Oct 2013 (Median) to 13 May 2025, with 2813 observations. The data reached an all-time high of 1,380.500 RMB/Ton in 12 May 2021 and a record low of 291.000 RMB/Ton in 10 Dec 2015. China Settlement Price: Dalian Commodity Exchange: Iron Ore: 2nd 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: Daily.

Explore the complexities of predicting iron ore prices influenced by demand-supply dynamics, geopolitical tensions, economic trends, and technological shifts. Understand the impact of global events and regional demand from China and India on future market trajectories.