Iron Ore decreased 1.36 USD/MT or 1.31% since the beginning of 2025, 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 March of 2025.

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 CNY increased 3.50 CNY/T or 0.45% 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 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.

Explore how iron ore prices on the LME reflect industrial health, driven by global demand, supply dynamics, and economic policies. Learn about the influence of key producers, technological advances, and market speculation on pricing trends.

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.

India Iron Ore: Average Sale Price: Fines: 58 - 60% Fe data was reported at 3,754.000 INR/Ton in Dec 2024. This records a decrease from the previous number of 3,778.000 INR/Ton for Nov 2024. India Iron Ore: Average Sale Price: Fines: 58 - 60% Fe data is updated monthly, averaging 1,964.000 INR/Ton from Feb 2011 (Median) to Dec 2024, with 167 observations. The data reached an all-time high of 4,775.000 INR/Ton in Aug 2021 and a record low of 819.000 INR/Ton in Dec 2015. India Iron Ore: Average Sale Price: Fines: 58 - 60% Fe data remains active status in CEIC and is reported by Indian Bureau of Mines. The data is categorized under India Premium Database’s Metal and Steel Sector – Table IN.WAC009: Iron Ore Average Sale Price.

Explore the key factors influencing iron ore prices in 2023, including global supply dynamics, demand from China, market speculation, and the shift towards renewable energy. Understand how production disruptions, economic policies, and carbon reduction efforts can impact the steel industry's essential raw material.

Explore the factors influencing iron ore prices, a vital component in global steel production, including demand in China, supply disruptions, and geopolitical tensions. Stay updated on current market trends, supply chain shifts, regulatory changes, and more for informed investment and manufacturing decisions.

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

Iron Ore: Average Sale Price: Fines: 55 - 58% Fe: Orissa data was reported at 3,322.000 INR/Ton in Dec 2024. This records an increase from the previous number of 2,970.000 INR/Ton for Nov 2024. Iron Ore: Average Sale Price: Fines: 55 - 58% Fe: Orissa data is updated monthly, averaging 1,212.000 INR/Ton from Apr 2011 (Median) to Dec 2024, with 164 observations. The data reached an all-time high of 4,784.000 INR/Ton in Feb 2024 and a record low of 568.000 INR/Ton in Aug 2017. Iron Ore: Average Sale Price: Fines: 55 - 58% Fe: Orissa data remains active status in CEIC and is reported by Indian Bureau of Mines. The data is categorized under India Premium Database’s Metal and Steel Sector – Table IN.WAC009: Iron Ore Average Sale Price.

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

In 2024, the Pakistani iron ore market decreased by -98% to $625K, falling for the second consecutive year after three years of growth. Over the period under review, consumption continues to indicate a sharp reduction. Iron ore consumption peaked at $64M in 2013; however, from 2014 to 2024, consumption stood at a somewhat lower figure.

According to Cognitive Market Research, the global Magnetite Iron Ore market size will be USD 89514.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 35805.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 26854.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 20588.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 4475.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1790.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.
The magnetite category is the fastest growing segment of the Magnetite Iron Ore industry

Market Dynamics of Magnetite Iron Ore Market

Key Drivers for Magnetite Iron Ore Market

Growing Urbanization and Industrialization to Boost Market Growth

Steel manufacture uses magnetite as a raw material. Global demand for steel has increased due to the fast growth of both industrialization and urbanization. With a high iron concentration of up to 70%, magnetite iron ore is a fine iron ore that is sought after for use in the making of steel. A number of industries have experienced tremendous expansion recently, including manufacturing, construction, and the automobile sector. The market for magnetite iron ore has been adversely affected by this. Important technology advancements in the mining industry have also accelerated the shift to automation and spawned new technological advancements. This has improved efficiency in the mining sector and the market for magnetite iron ore while lowering labor costs.

Increasing Requirement for High-Grade Iron Ore to Drive Market Growth

There are growing prospects for expansion because of the increasing demand from steel producers for high-grade iron ore. Phosphorus, silica, and other impurities are present in small amounts in magnetite iron ore, but iron content is high. Due to its minimal greenhouse gas emissions, using high-grade iron ore lessens its impact on the environment. This aids producers in meeting air quality standards and lessening their carbon footprint in accordance with government laws. By employing cutting-edge land rehabilitation strategies, low-impact mining methods, and recycling mining waste, mining operations have a smaller negative environmental impact. Enterprises have the chance to employ electric-powered machinery to lower their carbon emissions and adopt an environmentally sustainable approach.

Restraint Factor for the Magnetite Iron Ore Market

High Price of Iron Ore Will Limit Market Growth

The price of iron ore internationally varies due to a number of factors, including disruptions in supply, changes in geopolitical situations, and variations in demand. These factors impact the cost of raw materials for the magnetite iron ore market. In the magnetite iron ore market, volatile prices discourage investment and have an adverse effect on profitability. Governments are enacting laws to incentivize companies to reduce their greenhouse gas emissions. In order to abide by these strict restrictions, which have an effect on their profit margins and restrict their expansion, businesses must invest in energy-efficient and renewable technologies.

Impact of Covid-19 on the Magnetite Iron Ore Market

The magnetite iron ore market saw substantial disruptions to supply chains and demand patterns due to the COVID-19 epidemic. Production was lowered as a result of temporary mine closures and production delays brought on by lockdowns and restrictions in important mining zones. Global trade flows were also impacted by logistical bottlenecks caused by shipping and transportation disruptions. The demand for steel, which is primarily derived from magnetite iron ore, was slowed down by the manufacturing and construction sectors because of workforce shortages, decreased activity, and delayed proje...

The 2020 coronavirus (Covid-19) pandemic has had a noteworthy impact on commodities prices, including metals such as iron ore. The impact of Covid-19 on the global iron ore industry is apparent from the decline in the average year-to-date price of iron ore as of May 2020 (83.50 U.S. dollars per metric ton) as compared to the average price in 2019 (90.40 U.S. dollars per metric ton). Compared to other metals, however, iron ore prices have stayed relatively resilient, and are expected to recover further during 2020 once China's steel production increases again.

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

China Import Price: Iron Ore & Concentrate: Latin America: Mexico data was reported at 81.049 USD/Ton in Dec 2024. This records an increase from the previous number of 80.503 USD/Ton for Nov 2024. China Import Price: Iron Ore & Concentrate: Latin America: Mexico data is updated monthly, averaging 99.918 USD/Ton from Jan 2008 (Median) to Dec 2024, with 184 observations. The data reached an all-time high of 51,500.000 USD/Ton in Jun 2023 and a record low of 39.619 USD/Ton in Aug 2018. China Import Price: Iron Ore & Concentrate: Latin America: Mexico 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.

Explore the Iron Ore Pellets Global Market Report 2025 Market trends! Covers key players, growth rate 6.2% CAGR, market size $80.22 Billion, and forecasts to 2033. Get insights now!

China Settlement Price: Dalian Commodity Exchange: Iron Ore: 1st Month data was reported at 824.000 RMB/Ton in Feb 2025. This records an increase from the previous number of 773.000 RMB/Ton for Jan 2025. China Settlement Price: Dalian Commodity Exchange: Iron Ore: 1st Month data is updated monthly, averaging 715.500 RMB/Ton from Oct 2013 (Median) to Feb 2025, with 137 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.

In 2024, the Indian iron ore market decreased by -8.1% to $5.3B, falling for the second consecutive year after two years of growth. Over the period under review, consumption recorded a abrupt setback. Over the period under review, the market hit record highs at $11.3B in 2014; however, from 2015 to 2024, consumption stood at a somewhat lower figure.