Iron Ore fell to 105.44 USD/T on September 26, 2025, down 0.09% from the previous day. Over the past month, Iron Ore's price has risen 3.79%, and is up 13.40% 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 September of 2025.

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.

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.

China Export Price: Iron Ore & Concentrate data was reported at 109.821 USD/Ton in Mar 2025. This records an increase from the previous number of 101.512 USD/Ton for Feb 2025. China Export Price: Iron Ore & Concentrate data is updated monthly, averaging 135.109 USD/Ton from Jan 2008 (Median) to Mar 2025, with 205 observations. The data reached an all-time high of 1,112.560 USD/Ton in Feb 2015 and a record low of 57.833 USD/Ton in Jan 2010. China Export Price: Iron Ore & Concentrate 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, 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.

Explore the dynamics influencing the iron ore spot price, a key indicator in global commodities, affected by supply-demand shifts, economic conditions, and geopolitical factors, with significant impacts from major players like China, Australia, and Brazil.

China Import Price: Iron Ore & Concentrate: Africa: Mauritania data was reported at 105.120 USD/Ton in Mar 2025. This records an increase from the previous number of 90.108 USD/Ton for Feb 2025. China Import Price: Iron Ore & Concentrate: Africa: Mauritania data is updated monthly, averaging 103.268 USD/Ton from Jan 2008 (Median) to Mar 2025, with 204 observations. The data reached an all-time high of 207.346 USD/Ton in Aug 2021 and a record low of 36.169 USD/Ton in Jan 2016. China Import Price: Iron Ore & Concentrate: Africa: Mauritania 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 fluctuating iron ore prices influenced by global demand, production levels, and geopolitical factors. Learn about the impacts of China's policy changes, COVID-19, and broader economic conditions on the steel industry's essential raw material.

View monthly updates and historical trends for Iron Ore Spot Price (Any Origin). Source: World Bank. Track economic data with YCharts analytics.

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

Iron ore prices in , August, 2025 For that commodity indicator, we provide data from January 1960 to August 2025. The average value during that period was 48.8 dry metric ton unit with a minimum of 8.77 dry metric ton unit in January 1968 and a maximum of 214.43 dry metric ton unit in June 2021. | TheGlobalEconomy.com

Explore the complex factors influencing iron ore prices in USD in late 2023, including supply chain disruptions, geopolitical tensions, demand from China, sustainable technologies, currency fluctuations, and global economic conditions.

China Import Price: Iron Ore & Concentrate: Asia: Pakistan data was reported at 75.543 USD/Ton in Mar 2025. This records a decrease from the previous number of 79.703 USD/Ton for Feb 2025. China Import Price: Iron Ore & Concentrate: Asia: Pakistan data is updated monthly, averaging 70.210 USD/Ton from Feb 2008 (Median) to Mar 2025, with 165 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.

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Iron Ore Market Size 2025-2029

The iron ore market size is valued to increase USD 60.9 billion, at a CAGR of 3.3% from 2024 to 2029. Upsurge in the consumption of high-strength iron ore and steel will drive the iron ore market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 89% growth during the forecast period.
By Product - Fines segment was valued at USD 165.60 billion in 2023
By Source - Surface mining segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 29.20 billion
Market Future Opportunities: USD 60.90 billion
CAGR from 2024 to 2029 : 3.3%

Market Summary

Amidst the global economic recovery, the market experiences a significant surge in demand, driven primarily by the consumption of high-strength iron ore in the production of steel. This trend is particularly pronounced in emerging economies like China and India, where economic growth continues to fuel the demand for stainless steel. The market, a high capital investment sector, is expected to maintain its momentum, with industry analysts projecting a value of USD 150 billion by 2025. Despite challenges such as environmental concerns and supply chain disruptions, the market's resilience is evident, underpinned by the indispensable role of iron ore in infrastructure development and industrial growth.
The market's evolution reflects the interconnectedness of global economies and the ongoing quest for sustainable, high-performance materials.

What will be the Size of the Iron Ore Market during the forecast period?

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How is the Iron Ore Market Segmented ?

The iron ore industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Fines
  Pellets
  Lump
  HBI/DRI


Source

  Surface mining
  Underground mining


End-use

  Steel Manufacturers
  Construction Industry
  Automotive Industry


Application

  Steelmaking
  Construction
  Automotive
  Others
  Non-Steel Applications


Production Process

  Blast Furnace (BF)
  Direct Reduced Iron (DRI)


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Product Insights

The fines segment is estimated to witness significant growth during the forecast period.

In the dynamic and complex realm of the market, this essential steelmaking raw material undergoes continuous exploration and production using various methods. Mining techniques span open-pit and underground operations, with geophysical survey data informing the discovery of new mineral resources. Exploration relies on advanced drilling methods, while geological modeling and mineral resource assessment aid in ore grade estimation and mine planning. The ironmaking process is optimized through the application of innovative techniques, such as sintering process optimization and iron ore pelletization. In the sintering process, fine iron ore fines are blended with coke breeze, limestone, and recycled sinter particles, creating a porous, cohesive mass.

This sinter is then fed into the blast furnace, enhancing the efficiency of the ironmaking process. Environmental considerations are paramount in modern mining operations. Mine water management and dust suppression systems are crucial for minimizing environmental impact. Additionally, production cost analysis and mine waste management are essential for maintaining profitability and sustainability. The iron ore characterization and beneficiation processes employ magnetic separation methods and flotation cell design to improve ore quality. These techniques ensure the removal of impurities and the concentration of valuable iron ore particles, contributing to the overall efficiency of the mining and production process. As the industry evolves, mine safety regulations and transportation logistics continue to be critical factors in the success of iron ore mining operations.

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The Fines segment was valued at USD 165.60 billion in 2019 and showed a gradual increase during the forecast period.

The integration of advanced technologies, such as particle size distribution analysis and blast furnace operation optimization, further enhances the productivity and profitability of these ventures. A single data point illustrates the significance of fine iron ore in the industry: the global market for iron ore fines is projected to reach a value of USD120 billion by 2027, underscoring their importance as a key component in the

According to Cognitive Market Research, the global Magnetite Iron Ore market size was 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.

Energy-Intensive Processing Requirements

One major restraint in the magnetite iron ore market is the high energy consumption required for processing magnetite into usable iron ore concentrates. Unlike hematite, magnetite has a lower iron content in its natural form and typically requires extensive beneficiation processes such as grinding, magnetic separation, and concentration. These processes are energy-intensive and result in higher operational costs and environmental impact, particularly in regions where electricity or fuel costs are high or where sustainability regulations are strict. This can discourage...

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.

Graph and download economic data for Global price of Iron Ore (PIORECRUSDQ) from Q1 1990 to Q2 2025 about ore, iron, World, and price.

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

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

Quarterly iron ore prices have globally declined since the first quarter (Q1) of 2023, when they stood at approximately ****** U.S. dollars per metric ton. By Q2 2025, one metric ton of iron ore cost around ***** U.S. dollars, representing a decline of about ***** U.S. dollars per metric ton of iron ore worldwide since Q1 2023.