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.

Iron Ore fell to 94.47 USD/T on June 30, 2025, down 0.02% from the previous day. Over the past month, Iron Ore's price has fallen 1.54%, and is down 12.53% 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 July 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.

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.

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.

Iron Ore CNY rose to 716.50 CNY/T on June 27, 2025, up 2.36% from the previous day. Over the past month, Iron Ore CNY's price has risen 2.43%, but it is still 13.15% lower 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.

The Malaysian iron ore market rose significantly to $X in 2019, with an increase of X% against the previous year. Over the period under review, consumption showed a buoyant increase. The pace of growth appeared the most rapid in 2017 when the market value increased by X% year-to-year. Iron ore consumption peaked at $X in 2012; however, from 2013 to 2019, consumption stood at a somewhat lower figure.

Russia Avg Producer Price: OKPD2: Ores: Iron Ore: Iron Ore Pellets data was reported at 5,815.050 RUB/Ton in Jan 2019. This records a decrease from the previous number of 6,204.820 RUB/Ton for Dec 2018. Russia Avg Producer Price: OKPD2: Ores: Iron Ore: Iron Ore Pellets data is updated monthly, averaging 4,722.150 RUB/Ton from Jan 2017 (Median) to Jan 2019, with 25 observations. The data reached an all-time high of 6,204.820 RUB/Ton in Dec 2018 and a record low of 3,558.550 RUB/Ton in Jul 2017. Russia Avg Producer Price: OKPD2: Ores: Iron Ore: Iron Ore Pellets data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Prices – Table RU.PB001: Average Producer Price: Mining and Quarrying.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Iron Ores (WPS1011) from Jan 2014 to Dec 2017 about ore, iron, metals, production, commodities, PPI, price index, indexes, price, and USA.

In 2024, the Paraguayan iron ore market was finally on the rise to reach $1.9M after two years of decline. Overall, consumption continues to indicate noticeable growth. Iron ore consumption peaked at $7M in 2017; however, from 2018 to 2024, consumption remained at a lower figure.

China Import Price: Iron Ore & Concentrate: Africa: Cote d'lvoir data was reported at 77.081 USD/Ton in Jan 2017. China Import Price: Iron Ore & Concentrate: Africa: Cote d'lvoir data is updated monthly, averaging 77.081 USD/Ton from Jan 2017 (Median) to Jan 2017, with 1 observations. The data reached an all-time high of 77.081 USD/Ton in Jan 2017 and a record low of 77.081 USD/Ton in Jan 2017. China Import Price: Iron Ore & Concentrate: Africa: Cote d'lvoir 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.

China Import Price: Iron Ore & Concentrate: Europe: Netherlands data was reported at 658.000 USD/Ton in Mar 2022. This records a decrease from the previous number of 13,250.000 USD/Ton for Dec 2017. China Import Price: Iron Ore & Concentrate: Europe: Netherlands data is updated monthly, averaging 6,954.000 USD/Ton from Dec 2017 (Median) to Mar 2022, with 2 observations. The data reached an all-time high of 13,250.000 USD/Ton in Dec 2017 and a record low of 658.000 USD/Ton in Mar 2022. China Import Price: Iron Ore & Concentrate: Europe: Netherlands 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.

The Qatari iron ore market soared to $237M in 2024, growing by 401% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a drastic downturn. Over the period under review, the market attained the peak level at $629M in 2017; however, from 2018 to 2024, consumption stood at a somewhat lower figure.

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.

The Omani iron ore market reduced remarkably to $X in 2019, waning by -X% against the previous year. In general, consumption continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of X% y-o-y. Over the period under review, the market hit record highs at $X in 2011; however, from 2012 to 2019, consumption failed to regain the momentum.

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.

In 2024, the Lithuanian iron ore market decreased by -72.1% to $6.5K for the first time since 2021, thus ending a two-year rising trend. In general, consumption saw a perceptible setback. Iron ore consumption peaked at $719K in 2017; however, from 2018 to 2024, consumption remained at a lower figure.

Manganese traded flat at 29.35 CNY/mtu on June 27, 2025. Over the past month, Manganese's price has fallen 2.33%, and is down 19.59% compared to the same time last year, 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 July of 2025.

Lithium rose to 61,300 CNY/T on June 30, 2025, up 0.25% from the previous day. Over the past month, Lithium's price has risen 1.66%, but it is still 33.01% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Lithium - values, historical data, forecasts and news - updated on June of 2025.

The Portuguese iron ore market rose remarkably to $X in 2019, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2012 when the market value increased by X% y-o-y. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2019, consumption remained at a lower figure.