Iron Ore rose to 96.18 USD/T on June 6, 2025, up 0.50% from the previous day. Over the past month, Iron Ore's price has fallen 3.17%, and is down 11.34% 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 June of 2025.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Iron Ores (WPU101105) from Dec 1997 to Apr 2025 about ore, iron, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

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

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.

Iron Ore CNY decreased 77 CNY/T or 9.88% since the beginning of 2025, 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.

In May 2024, iron ore was valued at approximately 119 U.S. dollars per dry metric ton unit (dmtu), as compared to 105 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 30 U.S. dollars, and increased to a high of 168 U.S. dollars per dmtu in 2011. The price saw dramatic drops in the past decade, from 139.87 U.S. dollars per dry metric ton unit in March 2013 to 40.50 U.S. dollars per dmtu in December 2015. Since then, the price has increased gradually to 214.14 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 960 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 280 million metric tons in 2023.

Iron ore prices in , May, 2025 For that commodity indicator, we provide data from January 1960 to May 2025. The average value during that period was 48.62 dry metric ton unit with a minimum of 8.77 dry metric ton unit in January 1968 and a maximum of 214.43 dry metric ton unit in June 2021. | TheGlobalEconomy.com

Access global Iron Ore prices in locations such as South America, China, Southeast Asia and Africa. Includes monthly historical series and forecasts. Delivered via online charts, Excel, Power BI, and API. Free preview.

Manganese traded flat at 29.55 CNY/mtu on June 6, 2025. Over the past month, Manganese's price has fallen 2.31%, and is down 30.47% 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 June of 2025.

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.

Nickel fell to 15,395 USD/T on June 9, 2025, down 0.61% from the previous day. Over the past month, Nickel's price has fallen 1.00%, and is down 13.95% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Nickel - values, historical data, forecasts and news - updated on June of 2025.

Graph and download economic data for Global price of Iron Ore (PIORECRUSDQ) from Q1 1990 to Q1 2025 about ore, iron, World, and price.

Coal fell to 104.85 USD/T on June 6, 2025, down 0.14% from the previous day. Over the past month, Coal's price has risen 6.18%, but it is still 21.17% 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 June of 2025.

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

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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 by the increasing consumption of high-strength iron ore in the production of steel. The demand for steel, in turn, is being fueled by robust economic growth in major consumer markets, particularly China and India. These countries are witnessing a surge in infrastructure development and industrialization, leading to increased production of stainless steel. The market is characterized by high capital investment requirements due to the large-scale nature of mining operations. Despite this, the market presents substantial opportunities for companies seeking to capitalize on the growing demand for steel. However, challenges persist, including geopolitical risks, price volatility, and environmental concerns.
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 successfully balance growth and sustainability will be well-positioned to capitalize on the opportunities presented by this dynamic market.

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

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Iron ore exports play a significant role in global trade, with sinter feed being a primary application. The mining sector continues to innovate, employing both open pit and underground methods to extract this essential resource. Investments in iron ore have been on the rise, driven by the demand for bulk carriers and the expansion of iron ore terminals. Technological advancements, including magnetic separation and gravity separation, have improved the beneficiation process, ensuring higher quality pellet feed. Safety and sustainability are increasingly important considerations in the industry, with a focus on iron ore handling, storage, and mining operations.
Iron ore fines and derivatives have gained traction in the market, offering opportunities for logistics optimization and risk management through hedging. The market is influenced by various factors, including mine development, iron ore imports, and workforce dynamics. Innovations in iron ore technology, such as blending and iron ore shipping, aim to enhance efficiency and reduce costs. The industry's future is shaped by these trends and the continuous pursuit of innovation. Iron ore safety, sustainability, and technology are essential elements in the industry's growth trajectory. Understanding these dynamics can provide valuable insights for businesses seeking to engage in the market.

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


  Europe

    Germany
    Russia
    Sweden


  Middle East and Africa

    UAE


  APAC

    Australia
    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Product Insights

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

Iron ore fines, a crushed form of iron ore, play a crucial role in the production process of sinter products. In contrast to feeding fine iron ore directly into a blast furnace, which can smother the airflow, sinter is generated by combining fine iron ore with a binder (clay) and sometimes flux (limestone). The blending of iron ore fines allows for controlling the concentration of iron ore and contaminant materials entering the blast furnace. Sintering involves the mixing of iron ore fines with other materials such as coke breeze, limestone, and recycled sinter particles. This process enhances the quality of the iron ore by removing impurities and increasing its reactivity.

The resulting sinter is then used as a fuel and raw material in the blast furnace. Geopolitical factors and market fluctuations impact the market, influencing the pricing and availability of high-grade ore and iron ore pellets. To address the environmental concerns, the industry is focusing on carbon capture, energy efficiency, and the circular economy. The implementation of government policies and mine reclamation practices is essential for sustainable iron ore mining. Energy consumption is a significant co

LME Index fell to 4,113.40 Index Points on June 6, 2025, down 0.67% from the previous day. Over the past month, LME Index's price has risen 2.67%, but it is still 1.89% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. LME Index - values, historical data, forecasts and news - updated on June of 2025.

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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.

Lithium traded flat at 60,200 CNY/T on June 6, 2025. Over the past month, Lithium's price has fallen 9.68%, and is down 40.69% compared to the same time last year, 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 June of 2025.

Exploration activity has remained volatile over the past few years because of fluctuating commodity prices and inflationary pressures. Supply chain disruptions driven by the pandemic elevated commodity prices, spurring drilling activity to its peak of over 12.5 million metres drilled in 2021-22. However, as commodity prices softened and inflationary pressures mounted, the appetite for exploration activity has dampened, causing drilling activity to retreat from its peak and slump over the two years through 2023-24. Despite this, inflationary pressures, driven by labour shortages and supply constraints, have lifted input costs, offsetting exploration expenditure declines even as activity remains subdued. Established miners have focused on brownfield exploration, expanding and prolonging existing mines thanks to their lower risk and more predictable returns. Greenfield exploration is more speculative, and less than 1.0% of projects transition to mining operations. This higher risk, coupled with volatile commodity prices and heightened interest rates, has undermined investor enthusiasm for greenfield ventures. Still, rising global demand for base metals and critical minerals, along with government-led initiatives, has sustained greenfield exploration. These programs, like Exploring for the Future and the Junior Minerals Exploration Incentive, have boosted investor and explorer interest through essential data and funding, helping companies reduce uncertainty and explore underexplored territories. Mineral exploration expenditure is expected to climb at an annualised 3.5% over the five years through 2024-25, to $4.2 billion. This includes an expected 4.8% slump in 2024-25 because of softening exploration activity driven by low commodity prices. Net zero targets and supportive government policies will spur exploration for base metals and critical minerals, as these commodities are crucial inputs for energy transition. While commodity prices are forecast to remain low and restrain exploration in the short term, longer-term state and federal government strategies like Australia's Critical Minerals Strategy will support greenfield exploration. Brownfield exploration is set to underpin exploration expenditures as miners aim to optimise production scales as a result of mounting global competition, but high interest rates and low commodity prices could limit spending in the near term. Over the medium term, as inflation moderates, easing monetary policies worldwide should elevate exploration budgets. Global competition will intensify, with cost pressures and the allure of lower-cost international deposits prompting domestic giants to scout for opportunities abroad, weighing on domestic exploration expenditures. Mineral exploration expenditure is forecast to expand at an annualised 1.1% through 2029-30 to $4.4 billion