Iron Ore rose to 106.94 USD/T on December 1, 2025, up 2.00% from the previous day. Over the past month, Iron Ore's price has risen 1.04%, and is up 1.54% 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 December of 2025.

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.

Iron ore miners have faced difficult trading conditions because of easing iron ore prices over the past few years, despite the nation maintaining its status as the world's largest iron ore supplier and benefiting from proximity to Asian markets. However, modest growth in production volumes has partly offset revenue declines. Industry revenue is expected to have sunk at an annualised 1.7% over the five years through 2024-25, to $131.5 billion. Easing iron ore prices, driven primarily by a slowdown in China's construction sector and soaring supply, are weighing on iron ore miners' revenue and export values. Despite an economic stimulus from the Chinese government aimed at its property sector, iron ore prices are poised to remain low throughout 2024-25, prompting an anticipated revenue slump of 18.0% over the year. Iron ore prices remained volatile in the first half of 2025, with sweeping US tariffs initially weakening market sentiment and pushing prices down. The following scaling back of these tariffs helped fuel a partial recovery in iron ore prices. The industry’s profitability has eroded over recent years – including an expected drop in 2024-25 – because of lower prices and soaring input costs. Australia's domestic iron ore production has grown from 911.1 million tonnes in 2019-20 to an estimated 968.7 million tonnes in 2024-25. Expansion plans and investments by prominent producers like BHP, Rio Tinto and Fortescue in projects like the South Flank, Gudai-Darri and Iron Bridge operations have fuelled this growth. Rising input expenses, attributable to inflation and labour shortages, along with weak iron ore prices, are forcing producers to undertake aggressive cost-slashing measures, prompting market leaders to undertake job cuts and maintain lean operations. Operating at a lower end of the cost curve will be crucial for Australian iron ore miners to ride out market volatility over the coming years. While Australia is on track to ramp up production to over 1.0 billion tonnes by 2026-27, iron ore prices are projected to fall over the five years through 2029-30 because of surging supply from producers in Australia and Brazil and new mines like the Simandou project. Iron ore miners' revenue is forecast to contract at an annualised 3.9% over the five years through 2029-30, to $107.8 billion. Major companies are set to continue dominating the iron ore mining sector due to several expansion projects. The industry focus will likely shift towards emerging opportunities in the green iron and steel market, spurred by initiatives like the $1.0 billion Green Iron Investment Fund.

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.

Explore the dynamics of the iron ore market, focusing on Australia's role as a leading exporter. Understand how global demand, geopolitical tensions, and environmental policies influence iron ore prices, especially in AUD. Learn about factors affecting pricing trends, including China's demand, exchange rates, and future shifts towards greener technologies.

The Australian iron ore market contracted to $X in 2019, with a decrease of -X% against the previous year. In general, consumption, however, saw a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Iron Ore CNY rose to 794 CNY/T on November 28, 2025, up 0.70% from the previous day. Over the past month, Iron Ore CNY's price has fallen 1.31%, but it is still 0.13% higher than a year ago, 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.

Learn about the various factors influencing the current market price of iron ore, including global demand, production levels, and geopolitical events. Understand the role of major steel-producing countries like China, production levels of key exporters like Australia and Brazil, and the impact of geopolitical events on iron ore prices. Stay informed to make strategic investment decisions in the volatile iron ore market.

Australia BHP: Average Realized Price: Iron Ore data was reported at 56.710 USD/WMT in Jun 2018. This records an increase from the previous number of 56.540 USD/WMT for Dec 2017. Australia BHP: Average Realized Price: Iron Ore data is updated semiannually, averaging 58.420 USD/WMT from Jun 2013 (Median) to Jun 2018, with 11 observations. The data reached an all-time high of 112.000 USD/WMT in Dec 2013 and a record low of 43.000 USD/WMT in Dec 2015. Australia BHP: Average Realized Price: Iron Ore data remains active status in CEIC and is reported by BHP Billiton Group. The data is categorized under World Trend Plus’s Top Company: Metal and Mining: Asia Excluding China – Table WB.AT003: BHP Billiton Group (BHP): Operational Data.

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.

Get the latest insights on price movement and trend analysis of Iron Ore in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Iron Ore Price in Australia - 2023. Find the latest marketing data on the IndexBox platform.

Revenue is forecast to contract at a compound annual rate of 1.8% over the five years through 2025 to €9.5 billion. The pandemic contributed to significant disruption in iron ore miners’ downstream markets. As China is the largest consumer of iron ore, its strict COVID-19 restrictions hindered demand in 2020 and constrained revenue growth for the period. This was followed by skyrocketing iron ore prices in 2021 as demand suddenly soared following the lifting of some pandemic-related restrictions. However, in the context of a sluggish European market, iron mining revenue failed to recover despite historically high prices. Iron ore prices started to slide in 2022. This, along with persistently weak economic conditions, continued to hinder downstream activity, limiting revenue growth through 2024. European iron ore miners have also contended with growing competition from large foreign miners, like those in China, Australia and Brazil – the world’s largest iron ore producers. This has also pressured profitability, as some of these countries can offer more competitive prices. Iron ore mining revenue is forecast to hike by 1.1% in 2025, mainly due to a modest recovery in steel manufacturing in the EU, the main downstream market for iron ore. Lower inflation and interest rates, along with this, are set to support slightly better industry prospects. Revenue is expected to climb at a compound annual rate of 7.1% over the five years through 2030 to €13.3 billion. Recovering economic conditions will spur renewed demand for iron ore as activity levels support demand from European industries. Large iron ore miners will continue to dominate the market due to the significant capital requirements needed to set up iron ore mining operations.

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.

The article discusses the increasing demand for iron ores and concentrates in Australia, projecting a continued upward consumption trend over the next decade. Market performance is forecasted to slow down but still expand with an anticipated CAGR of +5.6% by 2035, reaching a volume of 1,804M tons. In terms of value, the market is expected to grow with an anticipated CAGR of +6.4% by 2035, reaching $185.8B (in nominal prices).

Revenue is forecast to contract at a compound annual rate of 1.8% over the five years through 2025 to €9.5 billion. The pandemic contributed to significant disruption in iron ore miners’ downstream markets. As China is the largest consumer of iron ore, its strict COVID-19 restrictions hindered demand in 2020 and constrained revenue growth for the period. This was followed by skyrocketing iron ore prices in 2021 as demand suddenly soared following the lifting of some pandemic-related restrictions. However, in the context of a sluggish European market, iron mining revenue failed to recover despite historically high prices. Iron ore prices started to slide in 2022. This, along with persistently weak economic conditions, continued to hinder downstream activity, limiting revenue growth through 2024. European iron ore miners have also contended with growing competition from large foreign miners, like those in China, Australia and Brazil – the world’s largest iron ore producers. This has also pressured profitability, as some of these countries can offer more competitive prices. Iron ore mining revenue is forecast to hike by 1.1% in 2025, mainly due to a modest recovery in steel manufacturing in the EU, the main downstream market for iron ore. Lower inflation and interest rates, along with this, are set to support slightly better industry prospects. Revenue is expected to climb at a compound annual rate of 7.1% over the five years through 2030 to €13.3 billion. Recovering economic conditions will spur renewed demand for iron ore as activity levels support demand from European industries. Large iron ore miners will continue to dominate the market due to the significant capital requirements needed to set up iron ore mining operations.

Revenue is forecast to contract at a compound annual rate of 1.8% over the five years through 2025 to €9.5 billion. The pandemic contributed to significant disruption in iron ore miners’ downstream markets. As China is the largest consumer of iron ore, its strict COVID-19 restrictions hindered demand in 2020 and constrained revenue growth for the period. This was followed by skyrocketing iron ore prices in 2021 as demand suddenly soared following the lifting of some pandemic-related restrictions. However, in the context of a sluggish European market, iron mining revenue failed to recover despite historically high prices. Iron ore prices started to slide in 2022. This, along with persistently weak economic conditions, continued to hinder downstream activity, limiting revenue growth through 2024. European iron ore miners have also contended with growing competition from large foreign miners, like those in China, Australia and Brazil – the world’s largest iron ore producers. This has also pressured profitability, as some of these countries can offer more competitive prices. Iron ore mining revenue is forecast to hike by 1.1% in 2025, mainly due to a modest recovery in steel manufacturing in the EU, the main downstream market for iron ore. Lower inflation and interest rates, along with this, are set to support slightly better industry prospects. Revenue is expected to climb at a compound annual rate of 7.1% over the five years through 2030 to €13.3 billion. Recovering economic conditions will spur renewed demand for iron ore as activity levels support demand from European industries. Large iron ore miners will continue to dominate the market due to the significant capital requirements needed to set up iron ore mining operations.

Explore the dynamic factors influencing Australia's iron ore prices, including global demand, mining output, market speculation, and environmental policies, and how these elements contribute to price volatility in the industry.

The 'Commodity Prices YoY' in Australia measures the year-over-year change in the prices of key commodities exported by the country, such as iron ore, coal, and natural gas.-2025-08-31

Exports of Iron Ore & Concentrates in Australia decreased to 10522 AUD Million in February from 12488 AUD Million in January of 2024. This dataset includes a chart with historical data for Australia Exports of Iron Ore & Concentrates.