Iron Ore rose to 96.18 USD/T on June 6, 2025, up 0.50% from the previous day. Over the past month, Iron Ore's price has fallen 3.17%, and is down 11.34% 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 June of 2025.

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

Iron ore prices in , May, 2025 For that commodity indicator, we provide data from January 1960 to May 2025. The average value during that period was 48.62 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

Iron Ore CNY decreased 77 CNY/T or 9.88% 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.

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).

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.

Explore the intricacies of the iron ore price chart and its impact on global markets. Understand how factors like demand, supply, and sustainability trends influence iron ore prices, crucial for traders, economists, and industries relying on steel production.

Explore the dynamics of China's iron ore price chart, a vital tool reflecting the volatility and trends in the commodities market influenced by global and domestic factors. Learn how China's demand shifts and policies impact global prices, offering insights into potential market movements for investors and analysts.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Iron Ores (WPU101105) from Dec 1997 to Apr 2025 about ore, iron, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

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.

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

Explore the intricacies of iron ore spot price charts, essential for understanding price fluctuations in the steel industry. Discover how these charts, influenced by global demand, economic conditions, and geopolitical events, aid stakeholders in making informed decisions.

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

United States - Producer Price Index by Industry: Iron Ore Mining: Iron Ore (Including Crude, Concentrates, Agglomerates and Pellates) was 212.57500 Index Dec 1997=100 in April of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Iron Ore Mining: Iron Ore (Including Crude, Concentrates, Agglomerates and Pellates) reached a record high of 231.25100 in April of 2023 and a record low of 99.20000 in January of 2000. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Iron Ore Mining: Iron Ore (Including Crude, Concentrates, Agglomerates and Pellates) - last updated from the United States Federal Reserve on June of 2025.

CN: China Iron Ore Price Index (CIOPI) data was reported at 244.040 Apr1994=100 in 06 Dec 2018. This records a decrease from the previous number of 247.840 Apr1994=100 for 05 Dec 2018. CN: China Iron Ore Price Index (CIOPI) data is updated daily, averaging 245.480 Apr1994=100 from Sep 2011 (Median) to 06 Dec 2018, with 1327 observations. The data reached an all-time high of 596.870 Apr1994=100 in 09 Sep 2011 and a record low of 148.990 Apr1994=100 in 16 Dec 2015. CN: China Iron Ore Price Index (CIOPI) data remains active status in CEIC and is reported by China Iron and Steel Association. The data is categorized under China Premium Database’s Price – Table CN.PG: China Iron Ore Price Index (CIOPI): Daily.

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

Access global Iron Ore prices in locations such as South America, China, Southeast Asia and Africa. Includes monthly historical series and forecasts. Delivered via online charts, Excel, Power BI, and API. Free preview.

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Iron Ore Market Size 2025-2029

The iron ore market size is forecast to increase by USD 60.9 billion at a CAGR of 3.3% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing consumption of high-strength iron ore in the production of steel. The demand for steel, in turn, is being fueled by robust economic growth in major consumer markets, particularly China and India. These countries are witnessing a surge in infrastructure development and industrialization, leading to increased production of stainless steel. The market is characterized by high capital investment requirements due to the large-scale nature of mining operations. Despite this, the market presents substantial opportunities for companies seeking to capitalize on the growing demand for steel. However, challenges persist, including geopolitical risks, price volatility, and environmental concerns.
To navigate these challenges effectively, market participants must stay abreast of the latest trends and developments, including advancements in mining technology and the adoption of sustainable mining practices. Companies that can successfully balance growth and sustainability will be well-positioned to capitalize on the opportunities presented by this dynamic market.

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

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Iron ore exports play a significant role in global trade, with sinter feed being a primary application. The mining sector continues to innovate, employing both open pit and underground methods to extract this essential resource. Investments in iron ore have been on the rise, driven by the demand for bulk carriers and the expansion of iron ore terminals. Technological advancements, including magnetic separation and gravity separation, have improved the beneficiation process, ensuring higher quality pellet feed. Safety and sustainability are increasingly important considerations in the industry, with a focus on iron ore handling, storage, and mining operations.
Iron ore fines and derivatives have gained traction in the market, offering opportunities for logistics optimization and risk management through hedging. The market is influenced by various factors, including mine development, iron ore imports, and workforce dynamics. Innovations in iron ore technology, such as blending and iron ore shipping, aim to enhance efficiency and reduce costs. The industry's future is shaped by these trends and the continuous pursuit of innovation. Iron ore safety, sustainability, and technology are essential elements in the industry's growth trajectory. Understanding these dynamics can provide valuable insights for businesses seeking to engage in the market.

How is this Iron Ore Industry 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


  Europe

    Germany
    Russia
    Sweden


  Middle East and Africa

    UAE


  APAC

    Australia
    China
    India
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Product Insights

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

Iron ore fines, a crushed form of iron ore, play a crucial role in the production process of sinter products. In contrast to feeding fine iron ore directly into a blast furnace, which can smother the airflow, sinter is generated by combining fine iron ore with a binder (clay) and sometimes flux (limestone). The blending of iron ore fines allows for controlling the concentration of iron ore and contaminant materials entering the blast furnace. Sintering involves the mixing of iron ore fines with other materials such as coke breeze, limestone, and recycled sinter particles. This process enhances the quality of the iron ore by removing impurities and increasing its reactivity.

The resulting sinter is then used as a fuel and raw material in the blast furnace. Geopolitical factors and market fluctuations impact the market, influencing the pricing and availability of high-grade ore and iron ore pellets. To address the environmental concerns, the industry is focusing on carbon capture, energy efficiency, and the circular economy. The implementation of government policies and mine reclamation practices is essential for sustainable iron ore mining. Energy consumption is a significant co

Explore the historical trends in iron ore pricing, a key indicator of industrial economic health, influenced by global demand, supply dynamics, and economic conditions. From early 2000s demand surges to COVID-19 impacts, understand the factors shaping iron ore prices.