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.

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.

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.

In June 2022, the iron ore price per ton amounted to $107 per ton, picking up by 18% against the previous month.

In June 2023, the price of Iron Ore amounted to $69.1 per ton (FOB, Brazil), decreasing by -16.9% compared to the previous month.

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.

Explore the factors influencing iron ore prices, including demand from major steel producers like China, supply disruptions, currency fluctuations, and speculative trading. Understand how these elements impact this essential commodity in the global market.

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 99.58 nominal U.S. dollars per dry metric ton.

In May 2022, the iron ore price per ton amounted to $208 (CIF, US), picking up by 17% against the previous month.

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.

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 the fiscal year 2022, the average import price of iron ore in Japan amounted to around 16.56 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 April 2023, the iron ore price stood at $176 per ton (CIF, Qatar), flattening at the previous month.

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.

China Import Price: Iron Ore & Concentrate: Asia: Pakistan data was reported at 57.104 USD/Ton in Nov 2024. This records a decrease from the previous number of 80.418 USD/Ton for Oct 2024. China Import Price: Iron Ore & Concentrate: Asia: Pakistan data is updated monthly, averaging 70.097 USD/Ton from Feb 2008 (Median) to Nov 2024, with 161 observations. The data reached an all-time high of 167.877 USD/Ton in Aug 2008 and a record low of 28.084 USD/Ton in Dec 2017. China Import Price: Iron Ore & Concentrate: Asia: Pakistan 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.

Quarterly iron ore prices have globally declined since the first quarter (Q1) of 2023, when they stood at approximately 126.32 U.S. dollars per metric ton. By Q3 2024, one metric ton of iron ore cost around 100.21 U.S.dollars, representing a decline of about 26 U.S. dollars per metric ton of iron ore worldwide since Q1 2023.

In September 2022, the iron ore price amounted to $34.0 per ton (FOB, India), dropping by -31.5% against the previous month.

Iron Ore: Average Sale Price: Fines: 62 - 65% Fe: Orissa data was reported at 4,774.000 INR/Ton in Dec 2024. This records an increase from the previous number of 4,674.000 INR/Ton for Nov 2024. Iron Ore: Average Sale Price: Fines: 62 - 65% Fe: Orissa data is updated monthly, averaging 2,047.000 INR/Ton from Aug 2009 (Median) to Dec 2024, with 185 observations. The data reached an all-time high of 8,364.000 INR/Ton in Jul 2021 and a record low of 683.000 INR/Ton in Dec 2009. Iron Ore: Average Sale Price: Fines: 62 - 65% 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.

Manganese increased 1.50 CNY/mtu or 5.22% since the beginning of 2025, 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 March of 2025.