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.

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 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 dynamic iron ore market influenced by China's demand, global trade tensions, and production levels from key producers like Australia and Brazil. Understand how economic policies, geopolitical events, and technological advancements shape price fluctuations in this vital global commodity.

View monthly updates and historical trends for China Iron Ore Fines Import Price. Source: International Monetary Fund. Track economic data with YCharts an…

Explore the factors influencing iron ore prices, a vital component in global steel production, including demand in China, supply disruptions, and geopolitical tensions. Stay updated on current market trends, supply chain shifts, regulatory changes, and more for informed investment and manufacturing decisions.

Iron ore prices are experiencing pressure due to speculation over China's potential steel production control, affecting market dynamics.

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

In September 2025, approximately ***** million metric tons of crude iron ore was extracted in China. Iron ore mining in China As the world's largest iron ore importing country since 2014, China's iron ore imports amount to over *** billion metric tons every year to meet its demand. Cutbacks in 2014 were likely the result of decreasing iron ore prices around the world, which fell from a high of 168 U.S. dollars per dry metric ton in 2011 to a low of an estimated 55 U.S. dollars in 2015. Iron ore prices have gradually recovered to the levels of 2014, standing at ***** U.S. dollars per dry metric ton as of 2023. China's steel industry Despite iron ore mining cutbacks in China and fluctuating prices, the price of steel, which is made from iron ore, has remained stable. China has remained the world’s largest crude steel producer. Among the twenty leading steelmakers worldwide, eleven are from China. As the largest crude steel producer in the world, Baowu Steel Group is state-owned and is the largest steel company in China. In 2022, Baowu Steel Group generated a revenue of over **** trillion yuan.

Monthly and long-term iron ore price data (US$/mt): historical series and analyst forecasts curated by FocusEconomics.

China Import Price: Iron Ore & Concentrate: Asia: Philippines data was reported at 109.076 USD/Ton in Mar 2025. This records a decrease from the previous number of 115.742 USD/Ton for Jan 2025. China Import Price: Iron Ore & Concentrate: Asia: Philippines data is updated monthly, averaging 99.171 USD/Ton from Jan 2008 (Median) to Mar 2025, with 143 observations. The data reached an all-time high of 58,800.000 USD/Ton in Apr 2022 and a record low of 6.714 USD/Ton in Jun 2015. China Import Price: Iron Ore & Concentrate: Asia: Philippines 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 factors influencing iron ore prices in China, including domestic demand from its steel industry, supply chain disruptions, global economic conditions, and market speculation. Learn about the impact of government policies and where to find live pricing updates.

China Settlement Price: Dalian Commodity Exchange: Iron Ore: 1st Month data was reported at 803.500 RMB/Ton in Nov 2025. This records a decrease from the previous number of 809.000 RMB/Ton for Oct 2025. China Settlement Price: Dalian Commodity Exchange: Iron Ore: 1st Month data is updated monthly, averaging 803.000 RMB/Ton from Oct 2013 (Median) to Nov 2025, with 146 observations. The data reached an all-time high of 1,346.000 RMB/Ton in Jul 2021 and a record low of 329.500 RMB/Ton in Feb 2016. China Settlement Price: Dalian Commodity Exchange: Iron Ore: 1st Month data remains active status in CEIC and is reported by Dalian Commodity Exchange. The data is categorized under China Premium Database’s Financial Market – Table CN.ZB: Dalian Commodity Exchange: Commodity Futures: Settlement Price.

In 2024, the Chinese iron ore market was finally on the rise to reach $113.6B after two years of decline. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $153.2B. From 2022 to 2024, the growth of the market remained at a somewhat lower figure.

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.

Learn about the projected growth of the iron ores and concentrates market in China, driven by increasing demand. Market volume is expected to reach 1,281M tons by 2035.

This statistic shows the import value of iron ore in China between 2014 and 2024. In 2024, China imported iron ore worth approximately ***** billion U.S. dollars.