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 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.

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.

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

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.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Iron Ores (WPU1011) from Jan 1947 to Jun 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 (PIORECRUSDQ) from Q1 1990 to Q2 2025 about ore, iron, World, and price.

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

Manganese traded flat at 29.75 CNY/mtu on August 1, 2025. Over the past month, Manganese's price has risen 1.02%, but it is still 13.14% 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 August of 2025.

ImPI: CCB: MRP: Iron Ores & Non-Ferrous Metallic Ores (INF) data was reported at 134.200 2020=100 in Mar 2025. This records an increase from the previous number of 131.300 2020=100 for Feb 2025. ImPI: CCB: MRP: Iron Ores & Non-Ferrous Metallic Ores (INF) data is updated monthly, averaging 135.600 2020=100 from Jan 2020 (Median) to Mar 2025, with 63 observations. The data reached an all-time high of 190.000 2020=100 in Nov 2021 and a record low of 89.200 2020=100 in Apr 2020. ImPI: CCB: MRP: Iron Ores & Non-Ferrous Metallic Ores (INF) data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I192: Import Price Index: 2020=100: Contract Currency Basis: Metals & Related Products.

ImPI: JPY Basis: MRP: INF: Iron Ores data was reported at 144.300 2020=100 in Mar 2025. This records a decrease from the previous number of 147.000 2020=100 for Feb 2025. ImPI: JPY Basis: MRP: INF: Iron Ores data is updated monthly, averaging 48.800 2020=100 from Jan 1980 (Median) to Mar 2025, with 543 observations. The data reached an all-time high of 227.100 2020=100 in Jan 2022 and a record low of 17.100 2020=100 in Apr 1995. ImPI: JPY Basis: MRP: INF: Iron Ores data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I181: Import Price Index: 2020=100: JPY Basis: Metals & Related Products.

In 2024, the Uruguayan iron ore market decreased by -80.4% to $555K, falling for the fourth consecutive year after two years of growth. Overall, consumption continues to indicate a precipitous setback. Over the period under review, the market attained the peak level at $53M in 2020; however, from 2021 to 2024, consumption stood at a somewhat lower figure.

Coal fell to 114.90 USD/T on August 1, 2025, down 0.22% from the previous day. Over the past month, Coal's price has risen 2.77%, but it is still 19.40% 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 August of 2025.

The Angolan iron ore market fell remarkably to $136K in 2024, with a decrease of -34.7% against the previous year. Overall, consumption, however, saw a temperate expansion. Over the period under review, the market reached the peak level at $1.2M in 2019; however, from 2020 to 2024, consumption remained at a lower figure.

Japan ImPI: CCB: MRP: INF: Iron Ores data was reported at 103.200 2020=100 in Feb 2025. This records a decrease from the previous number of 106.700 2020=100 for Jan 2025. Japan ImPI: CCB: MRP: INF: Iron Ores data is updated monthly, averaging 23.700 2020=100 from Jan 1980 (Median) to Feb 2025, with 542 observations. The data reached an all-time high of 219.600 2020=100 in Jun 2011 and a record low of 18.600 2020=100 in Dec 1988. Japan ImPI: CCB: MRP: INF: Iron Ores data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I192: Import Price Index: 2020=100: Contract Currency Basis: Metals & Related Products.

Japan ImPI: JPY Basis: MRP: INF: Iron Ores & Non-Ferrous Metallic Ores data was reported at 187.700 2020=100 in Mar 2025. This records an increase from the previous number of 187.100 2020=100 for Feb 2025. Japan ImPI: JPY Basis: MRP: INF: Iron Ores & Non-Ferrous Metallic Ores data is updated monthly, averaging 181.500 2020=100 from Jan 2020 (Median) to Mar 2025, with 63 observations. The data reached an all-time high of 231.600 2020=100 in Jun 2024 and a record low of 90.300 2020=100 in Apr 2020. Japan ImPI: JPY Basis: MRP: INF: Iron Ores & Non-Ferrous Metallic Ores data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I181: Import Price Index: 2020=100: JPY Basis: Metals & Related Products.

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.

According to Cognitive Market Research, The Global Nodular Pig Iron market size is USD XX million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.50% from 2024 to 2031.

North America Nodular Pig Iron held the major market of more than 40% of the global revenue and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
Europe Nodular Pig Iron held the major market of more than 30% of the global revenue and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031
Asia Pacific Nodular Pig Iron held the market of around 23% of the global revenue and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
South America Nodular Pig Iron market has more than 5% of the global revenue and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
Middle East and Africa Nodular Pig Iron held the major market of around 2% of the global revenue and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031
The ordinary type segment is set to rise due to the growing demand from the automotive and construction sectors. Rising infrastructure projects globally and the versatile applications of nodular pig iron in manufacturing drive market expansion.
Increasing demand from automotive and machinery sectors due to its superior strength and flexibility. Additionally, infrastructure projects worldwide contribute to its growth.

Rising Reliance on Electricity Generation through Renewable Energy Sources to Provide Viable Market Output

The rising reliance on electricity generation through renewable energy sources is reshaping global energy landscapes, with wind, solar, and hydroelectric power gaining prominence. This shift reflects growing environmental concerns and technological advancements driving sustainable energy solutions. Concurrently, the nodular pig iron market experiences shifts as industries adapt to renewable energy demands, altering production processes and material requirements. As renewable energy's momentum grows, industries worldwide navigate transitions toward greener practices, influencing markets and fostering innovation in energy and raw material sectors.

For instance, as per the Institute for Energy Economics and Financial Analysis (IEEFA), investment in renewable energy in India achieved a document US$14.5 billion in the last financial year (FY2021-22), an expansion of 125% compared to FY2020-21 and 72% over pre-pandemic FY2019-20.

(Source:https://ieefa.org/articles/record-us145-billion-investment-indian-renewable-energy-sector-last-financial-year#:~:text=9%20June%20(IEEFA%20India)%3A,and%20Financial%20Analysis%20(IEEFA).)

Rising Wind Energy Capacities around the World to Propel Market Growth

The nodular pig iron market is witnessing growth, paralleling the rise in global wind energy capacities. As wind energy expands worldwide, demand for nodular pig iron, a crucial component in wind turbine production, escalates. This trend is boosted by the growing emphasis on sustainable energy sources, prompting increased production of wind turbines. The nodular pig iron market is poised to benefit from the accelerating momentum of the renewable energy sector, reflecting a symbiotic relationship between the two industries.

For instance, as the Global Wind Energy Council reported, 93.6 GW of new wind energy capacity was added in 2021 at a global level, with an increase of 1.8% over the last year.

(Source:https://www.nextias.com/ca/current-affairs/13-04-2022/global-wind-report-2022-gwec#:~:text=Growth%20in%20capacity%3A%20New%20installations,compared%20to%202020%20was%20installed.)

Market Restraints of the Nodular Pig Iron

Fluctuating Raw Material Prices to Restrict Market Growth

The nodular pig iron market faces challenges due to fluctuating raw material prices. The volatility in input costs, including iron ore and coke, impacts production costs, subsequently affecting nodular pig iron prices. Market participants must navigate these dynamics to maintain profitability. Adaptable strategies and efficient supply chain management become crucial in mitigating the impact of raw material price fluctuations on the nodular pig iron sector.

Impact of COVID-19 on the Nodular Pig Iron Market

The nodular pig iron market experienced fluctuations due to COVID-19. Initially, the pandemic disrupted production and supply chains, causing a...

Canada RMPI: MO: Iron Ores & Concentrates data was reported at 144.200 Jan2020=100 in Mar 2025. This records a decrease from the previous number of 150.700 Jan2020=100 for Feb 2025. Canada RMPI: MO: Iron Ores & Concentrates data is updated monthly, averaging 56.100 Jan2020=100 from Jan 1981 (Median) to Mar 2025, with 531 observations. The data reached an all-time high of 215.000 Jan2020=100 in Jul 2021 and a record low of 41.700 Jan2020=100 in Sep 1981. Canada RMPI: MO: Iron Ores & Concentrates data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.I020: Raw Materials Price Index: Jan2020=100.

In 2023, the price of fabricated structural steel in the United Kingdom has fallen by over ** percent. That came after the cost of that building material soared between 2020 and 2022. Most of that price increase happened in 2021, with a growth rate of **** percent that year. Structural steel is widely used for construction because it is durable, malleable, and strong, while also being cheaper than many other metals. For example, it is often used as a structural material for skyscrapers and other buildings, as well as for infrastructure. Why has the price of steel increased? Those price increases seen until 2022 have not just affected the UK, but many other countries around the world. For example, the cost of fabricated structural metal in the U.S. and that of structural steel and other steel products in Germany reached their highest growth rate in 2022. Supply chain disruptions along with a decrease in the global production of crude steel in 2020 were some of the main reasons for those price hikes in 2021. In addition to that, the price of iron ore, which is the main component of steel, and energy also had a strong impact on the final price of steel products those years. Largest steel producers In the past couple of years, China was by far the largest steel producer in the world, with a production volume that was well over ***** times higher than that of the second country in the ranking: India. Although the United States was also on that list along with Japan and Russia, it was not among the leading exporters of steel. The reason for that discrepancy is that a big share of the production in countries of the size of the U.S., China, and India goes to fill their own domestic needs. Meanwhile, **** of the ** companies with the highest output of steel came from China, with the rest coming from Luxembourg, Japan, South Korea, India, and the U.S.