Iron Ore rose to 96.24 USD/T on July 3, 2025, up 1.17% from the previous day. Over the past month, Iron Ore's price has risen 0.99%, but it is still 14.88% lower than a year ago, 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 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.

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

Iron Ore CNY rose to 733 CNY/T on July 3, 2025, up 0.83% from the previous day. Over the past month, Iron Ore CNY's price has risen 4.05%, but it is still 15.21% 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.

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

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

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.

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.

India Iron Ore: Average Sale Price: Fines: 58 - 60% Fe data was reported at 3,714.000 INR/Ton in Feb 2025. This records a decrease from the previous number of 3,786.000 INR/Ton for Jan 2025. India Iron Ore: Average Sale Price: Fines: 58 - 60% Fe data is updated monthly, averaging 1,988.000 INR/Ton from Feb 2011 (Median) to Feb 2025, with 169 observations. The data reached an all-time high of 4,775.000 INR/Ton in Aug 2021 and a record low of 819.000 INR/Ton in Dec 2015. India Iron Ore: Average Sale Price: Fines: 58 - 60% Fe 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.

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).

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Iron Ores (WPU1011) from Jan 1947 to May 2025 about ore, iron, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

Graph and download economic data for Producer Price Index by Industry: Iron Ore Mining (PCU212210212210) from Dec 1984 to May 2025 about ore, iron, mining, PPI, industry, inflation, price index, indexes, price, and USA.

In 2024, the Indian iron ore market increased by 2.1% to $6.6B for the first time since 2021, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a drastic downturn. Iron ore consumption peaked at $13.6B in 2012; however, from 2013 to 2024, consumption failed to regain momentum.

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

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

Explore the factors influencing iron ore prices, from demand in major steel-producing countries to supply disruptions, and understand the historical fluctuations in pricing, including the impact of the COVID-19 pandemic, and what factors may shape future price movements.

Iron Ore Fines Market Outlook

The global iron ore fines market size was valued at approximately USD 125 billion in 2023 and is projected to reach USD 190 billion by 2032, growing at a steady compound annual growth rate (CAGR) of 4.8% over the forecast period. This growth can be attributed to the increasing demand for steel across various industries, which is the primary driver of the iron ore market. The robust urbanization and industrialization in emerging economies, particularly in the Asia Pacific region, are propelling the demand for iron ore fines as they are a critical raw material for steel production. Additionally, advancements in mining and processing technologies are enhancing the efficiency and sustainability of iron ore extraction, contributing to the market expansion.

The growth of the iron ore fines market is significantly influenced by the surging demand for steel in various sectors, including construction, automotive, and infrastructure development. Steel's versatility and durability make it a preferred material for building skyscrapers, bridges, and transportation systems. The rapid pace of urbanization, particularly in developing countries, is driving an unprecedented need for new infrastructure projects, which, in turn, is boosting the demand for steel. Consequently, this increased demand for steel is directly impacting the iron ore fines market, as these fines are a crucial component in steelmaking. Moreover, the automotive industry is witnessing a shift towards lightweight and high-strength materials, further driving the need for quality steel and iron ore fines.

Another major growth factor for the iron ore fines market is the growing emphasis on sustainable and efficient mining practices. With the global push towards reducing carbon emissions and minimizing environmental impacts, the mining industry is adopting advanced technologies to improve the extraction and processing of iron ore. Innovations such as automation, AI-driven analytics, and environmentally friendly mining techniques are enhancing the productivity of mining operations while reducing waste and emissions. These advancements are not only increasing the supply and quality of iron ore fines but also aligning the market with global sustainability goals, thereby attracting more investments and fostering market growth.

The regional outlook for the iron ore fines market reveals significant growth potential in the Asia Pacific region. This region is expected to dominate the market owing to the presence of major economies like China and India, which are witnessing rapid industrialization and urbanization. China's extensive steel production capacity and infrastructure development projects are major contributors to the demand for iron ore fines. In addition, India’s ambitious infrastructure initiatives and growing automotive sector are further propelling market growth in the region. North America and Europe are also expected to see moderate growth due to the increasing focus on modernizing infrastructure and the automotive industry's shift towards electric vehicles. Meanwhile, Latin America and the Middle East & Africa are exploring new mining opportunities, with several countries investing in enhancing their mining capabilities.

Grade Analysis

The iron ore fines market is segmented into high-grade, medium-grade, and low-grade iron ore fines, each catering to different industry requirements. High-grade iron ore fines, which contain a higher percentage of iron content, are in high demand due to their efficiency in steel production. These fines reduce the cost of processing and increase the quality of the steel produced, making them highly sought after by steel manufacturers. The demand for high-grade iron ore fines is particularly strong in regions with stringent quality standards for steel production, such as North America and Europe, where industrial applications require top-grade materials to ensure durability and performance.

Medium-grade iron ore fines represent a significant portion of the market and are often utilized by industries that balance cost and performance. These fines are a preferred choice for many emerging economies where steel production is rapidly expanding but cost constraints necessitate the use of more affordable raw materials. In the Asia Pacific region, medium-grade fines are extensively used in construction and infrastructure projects, providing a cost-effective solution while maintaining acceptable quality standards. The flexibility of medium-grade iron ore fines in various applications makes them a crucial component in meeting the diverse needs of global steel production.

India Iron Ore: Average Sale Price: Fines: 62 - 65% Fe data was reported at 4,757.000 INR/Ton in Feb 2025. This records a decrease from the previous number of 4,805.000 INR/Ton for Jan 2025. India Iron Ore: Average Sale Price: Fines: 62 - 65% Fe data is updated monthly, averaging 2,335.000 INR/Ton from Aug 2009 (Median) to Feb 2025, with 187 observations. The data reached an all-time high of 7,787.000 INR/Ton in Jul 2021 and a record low of 486.000 INR/Ton in Sep 2009. India Iron Ore: Average Sale Price: Fines: 62 - 65% Fe 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.

Explore the factors contributing to price fluctuations in the global iron ore market, from changes in demand to disruptions in supply, and how the shift towards high-grade iron ore products is reshaping the industry.

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.