Iron Ore fell to 96.71 USD/T on July 11, 2025, down 0.05% from the previous day. Over the past month, Iron Ore's price has risen 1.31%, but it is still 11.74% 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.

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

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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). .

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 2024, the iron ore market in Australia and Oceania decreased by -3.4% to $89.6B, falling for the third consecutive year after six years of growth. In general, consumption saw a significant expansion. Over the period under review, the market reached the maximum level at $114.4B in 2021; however, from 2022 to 2024, consumption failed to regain momentum.

In 2023, iron ore was worth an average of approximately 120 U.S. dollars per dry metric ton unit (dmtu), compared to only 29 U.S. dollars per dmtu in 2000. The month with the highest average iron ore price in 2021 was June, at over 200 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 214.43 U.S. dollars per dmtu in June 2021 down to a low of 96.24 U.S. dollars per dmtu in November 2021. Major iron ore producing nations Australia has the world's largest iron ore reserves, at 51 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 207.98 million metric tons in 2004, to over one billion metric tons in 2018.

Manganese traded flat at 29.45 CNY/mtu on July 11, 2025. Over the past month, Manganese's price has risen 0.34%, but it is still 16.45% 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.

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.

The Iron Smelting and Steel Manufacturing industry has faced fluctuating demand and economic pressures, especially from the construction and mining sectors. While construction market volatility has dampened demand for steel products in residential and infrastructure projects, the mining sector has provided some stability. Rising demand for steel in iron ore, gold and copper mining has offset some of the losses in the construction sector. However, challenges persist. The declining world price of steel and rising costs for inputs, including iron ore and coking coal, are weakening profit. These price fluctuations have resulted in heightened industry consolidation and reduced competition. Manufacturers have been under pressure to innovate as automation and AI adoption become critical to maintaining operational efficiency. The industry is also adjusting to stricter environmental regulations and rising demand for sustainable products, with manufacturers increasingly shifting towards green steel production practices. Industry revenue is expected to have dipped at an annualised 0.7% over the five years through 2024-25, to $15.9 billion. This trend includes an anticipated plummet of 10.3% in 2024-25, primarily driven by fierce competition from low-cost imports from countries like China (which offer competitive pricing but raise concerns about quality and regulatory compliance), alongside rising production costs, reduced construction activity and the costly shift towards sustainable, low-carbon technologies. Changes in trade policies and ongoing global technological advancements are also continuously shaping market conditions, making imported steel products more competitive and influencing industry strategies and investments. In the coming years, increasing investments in infrastructure, the growing adoption of sustainable practices and rising global demand for green steel will underpin a recovery in revenue. With the government's Infrastructure Investment Project expanding, particularly in transport and renewable energy projects, steel consumption is projected to rise, especially for structural components, reinforcing bars and prefabricated steel. This trend will benefit manufacturers that invest in automation, green technologies and expansions to production capacities to meet growing demand. In line with global sustainability trends, steel producers are set to adopt low-carbon technologies to align with government initiatives and international regulations. Input costs are projected to stabilise. However, domestic manufacturers will contend with import competition and global supply chain disruptions, which may continue to affect price stability and project timelines. Overall, revenue is forecast to climb at an annualised 2.2% over the five years through 2029-30, to reach $17.8 billion.

The industry has expanded over the past few years on the back of higher commodity prices. Global supply disruptions resulting from the pandemic and the Russia-Ukraine conflict, along with supply constraints, caused prices for commodities like iron ore, nickel and coal to soar over the two years through 2021-22, benefiting wholesalers that serviced foreign buyers and stimulating a revenue expansion. While commodity prices have retracted from their peaks and driven down wholesalers' revenue in the following years, alumina and bauxite supply bottlenecks in China and Guinea have propelled alumina prices in late 2024, boosting Australia's alumina and aluminium export revenue and supporting wholesalers' performance in 2024-25. Heightened steel imports have also given domestic metal and mineral wholesalers an opportunity to source competitively priced grades from abroad, meeting domestic demand while supporting their growth. Revenue is anticipated to have risen at an annualised 1.8% over the five years through 2024-25, including an anticipated 1.8% climb in 2024-25, to $32.6 billion. However, as in most wholesaling industries, profit margins are very slim, and the highly volatile movements have made it hard for many wholesalers to sustain profitability. Larger wholesalers with robust risk-management strategies and supply agreements have adapted better. Meanwhile, smaller players have struggled amid volatile prices, which have caused some smaller wholesalers to exit the industry, resulting in a dip in the number of enterprises over the past five years. Commodity prices are forecast to soften over the medium term, particularly as tensions between major global economies threaten to curtail international trade. Alumina prices spiked in late 2024, but a loosening of supply constraints is anticipated to lower prices in the coming quarters, shrinking wholesalers' revenue base. Weaker Chinese demand, exacerbated by geopolitical frictions like US tariffs and slower global GDP growth, will compound downwards pressure on prices for key commodities like iron ore. However, a rebound in domestic construction activity is set to redirect some wholesalers away from export-focused strategies. As costs stabilise, local residential and commercial projects will likely pick up, with greater emphasis on multi-unit builds and government-backed initiatives like the Housing Australia Future Fund. Over the longer term, there will be a pivot away from fossil fuels, with demand for battery metals – nickel, copper and aluminium – gaining traction as part of the global shift towards cleaner energy. Overall, industry revenue is forecast to dip at an annualised 0.5% over the five years through 2029-30 to $31.9 billion.

Lithium rose to 63,750 CNY/T on July 11, 2025, up 0.16% from the previous day. Over the past month, Lithium's price has risen 5.11%, but it is still 29.56% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Lithium - values, historical data, forecasts and news - updated on July of 2025.

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.

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.

The Australian mining logistics market, valued at $9.96 billion in 2025, is projected to experience robust growth, driven by increasing mining activities and a rising demand for efficient transportation and warehousing solutions. A compound annual growth rate (CAGR) of 4.04% from 2025 to 2033 indicates a substantial expansion in market size over the forecast period. Key growth drivers include the ongoing exploration and development of new mining projects, the increasing complexity of mining operations necessitating specialized logistics, and a growing emphasis on supply chain optimization to reduce costs and improve efficiency. The market is segmented by service type (transportation, warehousing and inventory management, and value-added services) and mineral/metal type (iron ore, base metals, coal, gold, and others). While transportation currently dominates the market share, the demand for value-added services, such as customized packaging and specialized handling, is expected to grow significantly. Major players like Toll Holdings Limited, Linfox Pty Ltd, and others are actively shaping the market through strategic investments in technology, infrastructure, and service diversification. The market's growth, however, might face certain challenges. Fluctuations in commodity prices, regulatory changes impacting mining operations, and infrastructure limitations in remote mining regions could potentially impede market expansion. Nevertheless, the sustained demand for Australian mining products globally, coupled with investments in infrastructure development and technological advancements, is anticipated to mitigate these challenges and ensure steady growth throughout the forecast period. The strategic focus on sustainability and environmental regulations within the mining sector also presents an opportunity for logistics providers to integrate green logistics practices, enhancing their market competitiveness. This growth will be fueled by increased mining operations, improving supply chain efficiency, and the adoption of new technologies such as automation and digitalization within the logistics sector. Recent developments include: March 2022: After approval from Australia's Foreign Investment Review Board, Rio Tinto has completed the USD 825 million acquisition of the Rincon lithium project in Argentina. In a time of limited supply, Rincon positioned Rio Tinto to meet the double-digit growth in lithium demand over the next ten years by strengthening their battery materials business. As they construct this project to the highest ESG standards, they will collaborate with neighborhood residents, the Province of Salta, and the Government of Argentina., January 2022: Bis signed a multi-year on-road haulage contract for Hunter Valley Operations (HVO) at its Howick-based processing facility. Comprising A-Double and B-Double trailer configurations, loading, and road maintenance equipment, the dedicated fleet will transport material from HVO's preparation plant to its Newdell train load-out facility.. Notable trends are: Increasing Exports from the Mining Industry.

Coal rose to 112 USD/T on July 11, 2025, up 0.90% from the previous day. Over the past month, Coal's price has risen 7.07%, but it is still 16.32% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Coal - values, historical data, forecasts and news - updated on July of 2025.

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.