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.

This statistic depicts the average monthly prices for iron ore worldwide from January 2014 through January 2025. In January 2025, the average monthly price for iron ore worldwide stood at ***** nominal U.S. dollars per dry metric ton.

In the fiscal year 2022, the average import price of iron ore in Japan amounted to around ***** thousand Japanese yen per ton. Iron ore is one of the basic raw materials needed to produce steel, of which Japan is one of the leading producers worldwide.

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.

China Import Price: Iron Ore & Concentrate: Asia: Singapore data was reported at 4,244.898 USD/Ton in Mar 2014. This records a decrease from the previous number of 28,333.333 USD/Ton for Jul 2008. China Import Price: Iron Ore & Concentrate: Asia: Singapore data is updated monthly, averaging 16,289.116 USD/Ton from Jul 2008 (Median) to Mar 2014, with 2 observations. The data reached an all-time high of 28,333.333 USD/Ton in Jul 2008 and a record low of 4,244.898 USD/Ton in Mar 2014. China Import Price: Iron Ore & Concentrate: Asia: Singapore data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PG: Iron Ore and Concentrate Import and Export Price.

In May 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.

China Import Price: Iron Ore & Concentrate: Africa: Mali data was reported at 89.279 USD/Ton in Nov 2024. This records a decrease from the previous number of 102.420 USD/Ton for Jun 2024. China Import Price: Iron Ore & Concentrate: Africa: Mali data is updated monthly, averaging 113.840 USD/Ton from Nov 2010 (Median) to Nov 2024, with 46 observations. The data reached an all-time high of 170.000 USD/Ton in Oct 2011 and a record low of 67.862 USD/Ton in Nov 2014. China Import Price: Iron Ore & Concentrate: Africa: Mali data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PG: Iron Ore and Concentrate Import and Export Price.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Iron Ores (WPS1011) from Jan 2014 to Dec 2017 about ore, iron, metals, production, commodities, PPI, price index, indexes, price, and USA.

China Import Price: Iron Ore & Concentrate: Asia: Laos, PDR data was reported at 104.391 USD/Ton in Mar 2025. This records a decrease from the previous number of 105.721 USD/Ton for Feb 2025. China Import Price: Iron Ore & Concentrate: Asia: Laos, PDR data is updated monthly, averaging 99.739 USD/Ton from Jun 2011 (Median) to Mar 2025, with 137 observations. The data reached an all-time high of 10,200.000 USD/Ton in Sep 2014 and a record low of 40.555 USD/Ton in Jan 2018. China Import Price: Iron Ore & Concentrate: Asia: Laos, PDR data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PG: Iron Ore and Concentrate Import and Export Price.

In 2024, the Pakistani iron ore market decreased by -16.6% to $33M, falling for the second consecutive year after three years of growth. Overall, consumption continues to indicate a abrupt slump. Iron ore consumption peaked at $92M in 2013; however, from 2014 to 2024, consumption stood at a somewhat lower figure.

The Myanmar's iron ore market fell significantly to $17M in 2024, with a decrease of -17.8% against the previous year. In general, consumption saw a abrupt decrease. Iron ore consumption peaked at $269M in 2013; however, from 2014 to 2024, consumption stood at a somewhat lower figure.

China Import Price: Iron Ore & Concentrate: Africa: Uganda data was reported at 149.880 USD/Ton in Feb 2025. This records a decrease from the previous number of 12,031.250 USD/Ton for Mar 2024. China Import Price: Iron Ore & Concentrate: Africa: Uganda data is updated monthly, averaging 198.613 USD/Ton from Jun 2011 (Median) to Feb 2025, with 13 observations. The data reached an all-time high of 19,051.567 USD/Ton in Aug 2013 and a record low of 101.005 USD/Ton in Oct 2014. China Import Price: Iron Ore & Concentrate: Africa: Uganda data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PG: Iron Ore and Concentrate Import and Export Price.

China Import Price: Iron Ore & Concentrate: Latin America: Ecuador data was reported at 72.336 USD/Ton in Dec 2014. This records a decrease from the previous number of 116.304 USD/Ton for Jul 2013. China Import Price: Iron Ore & Concentrate: Latin America: Ecuador data is updated monthly, averaging 120.868 USD/Ton from Apr 2013 (Median) to Dec 2014, with 4 observations. The data reached an all-time high of 126.327 USD/Ton in May 2013 and a record low of 72.336 USD/Ton in Dec 2014. China Import Price: Iron Ore & Concentrate: Latin America: Ecuador data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PG: Iron Ore and Concentrate Import and Export Price.

China Import Price: Iron Ore & Concentrate: Africa: Zimbabwe data was reported at 18,100.000 USD/Ton in Sep 2024. This records an increase from the previous number of 13,087.049 USD/Ton for Oct 2023. China Import Price: Iron Ore & Concentrate: Africa: Zimbabwe data is updated monthly, averaging 13,043.524 USD/Ton from May 2014 (Median) to Sep 2024, with 10 observations. The data reached an all-time high of 36,100.000 USD/Ton in Jun 2021 and a record low of 228.333 USD/Ton in Aug 2020. China Import Price: Iron Ore & Concentrate: Africa: Zimbabwe data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PG: Iron Ore and Concentrate Import and Export Price.

China Import Price: Iron Ore & Concentrate: Africa: Cameroon data was reported at 4,006.536 USD/Ton in Feb 2025. This records an increase from the previous number of 27.992 USD/Ton for Nov 2024. China Import Price: Iron Ore & Concentrate: Africa: Cameroon data is updated monthly, averaging 2,052.386 USD/Ton from Dec 2014 (Median) to Feb 2025, with 4 observations. The data reached an all-time high of 10,564.516 USD/Ton in Dec 2014 and a record low of 27.992 USD/Ton in Nov 2024. China Import Price: Iron Ore & Concentrate: Africa: Cameroon data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PG: Iron Ore and Concentrate Import and Export Price.

In 2019, the global iron ore market increased by X% to $X, rising for the third consecutive year after three years of decline. In general, the total consumption indicated a pronounced increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +X% against 2016 indices. The pace of growth was the most pronounced in 2011 with an increase of X% year-to-year. Global consumption peaked at $X in 2013; however, from 2014 to 2019, consumption remained at a lower figure.

China Import Price: Iron Ore & Concentrate: Latin America: Honduras data was reported at 93.245 USD/Ton in Sep 2024. This records a decrease from the previous number of 95.642 USD/Ton for Aug 2024. China Import Price: Iron Ore & Concentrate: Latin America: Honduras data is updated monthly, averaging 112.670 USD/Ton from Mar 2010 (Median) to Sep 2024, with 66 observations. The data reached an all-time high of 17,000.000 USD/Ton in Sep 2021 and a record low of 49.500 USD/Ton in Dec 2014. China Import Price: Iron Ore & Concentrate: Latin America: Honduras data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PG: Iron Ore and Concentrate Import and Export Price.

The Cote d'Ivoire's iron ore market shrank to $1.9K in 2024, which is down by -14.4% against the previous year. Overall, consumption, however, continues to indicate a resilient expansion. Iron ore consumption peaked at $7.5K in 2014; however, from 2015 to 2024, consumption stood at a somewhat lower figure.

China Import Price: Iron Ore & Concentrate: Europe: Serbia data was reported at 25.610 USD/Ton in Apr 2016. This records a decrease from the previous number of 83.137 USD/Ton for Apr 2014. China Import Price: Iron Ore & Concentrate: Europe: Serbia data is updated monthly, averaging 90.320 USD/Ton from Oct 2008 (Median) to Apr 2016, with 16 observations. The data reached an all-time high of 5,640.167 USD/Ton in Oct 2008 and a record low of 25.610 USD/Ton in Apr 2016. China Import Price: Iron Ore & Concentrate: Europe: Serbia data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PG: Iron Ore and Concentrate Import and Export Price.

The Iranian iron ore market soared to $X in 2019, jumping by X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 with an increase of X% y-o-y. Iron ore consumption peaked at $X in 2014; afterwards, it flattened through to 2019.