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 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.

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.

Graph and download economic data for Import Price Index: Iron and steel mills and ferroalloy manufacturing for Eastern Europe, Latin America, OPEC countries, and other countries in Asia, Africa, and the Western Hemisphere (DISCONTINUED) (COOTHERZ3311) from Jun 2012 to Dec 2017 about Africa, ferroalloy, Latin America, Asia, iron, mills, steel, imports, Europe, manufacturing, price index, indexes, and price.

Global iron bar imports totaled 39M tons in 2016, approximately mirroring the previous year figure. In general, iron bar imports continue to indicate a relatively flat trend pattern. The growth pace...

Iron Ore: Average Sale Price: Fines: 58 - 60% Fe: Orissa data was reported at 3,673.000 INR/Ton in Dec 2024. This records a decrease from the previous number of 3,701.000 INR/Ton for Nov 2024. Iron Ore: Average Sale Price: Fines: 58 - 60% Fe: Orissa data is updated monthly, averaging 1,327.000 INR/Ton from Mar 2011 (Median) to Dec 2024, with 165 observations. The data reached an all-time high of 4,891.000 INR/Ton in Aug 2021 and a record low of 595.000 INR/Ton in Apr 2016. Iron Ore: Average Sale Price: Fines: 58 - 60% 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.

Kazakhstan Average Price: Non Food Products: Steam Iron data was reported at 12,568.000 KZT/Unit in 2017. This records an increase from the previous number of 11,656.000 KZT/Unit for 2016. Kazakhstan Average Price: Non Food Products: Steam Iron data is updated yearly, averaging 3,462.000 KZT/Unit from Dec 1996 (Median) to 2017, with 22 observations. The data reached an all-time high of 12,568.000 KZT/Unit in 2017 and a record low of 1,521.000 KZT/Unit in 1996. Kazakhstan Average Price: Non Food Products: Steam Iron data remains active status in CEIC and is reported by The Agency of Statistics of the Republic of Kazakhstan. The data is categorized under Global Database’s Kazakhstan – Table KZ.P002: Average Price: Consumer Goods and Services.

Graph and download economic data for Producer Price Index by Industry: Iron, Steel Pipe and Tube from Purchased Steel: Oil Country Tubular Goods (OCTG), Standard, Line Pipe, Carbon (DISCONTINUED) (PCU33121033121001) from Dec 2010 to Feb 2017 about iron, purchase, steel, oil, goods, PPI, industry, inflation, price index, indexes, price, and USA.

Global iron ore imports stood at 3,127M tons in 2016, remaining relatively unchanged against the previous year figure. The total import volume increased at an average annual rate of +3.4% from 2007 ...

United States - Import Price Index: Iron and steel mills and ferroalloy manufacturing for Eastern Europe, Latin America, OPEC countries, and other countries in Asia, Africa, and the Western Hemisphere (DISCONTINUED) was 86.90000 Index 2010=100 in December of 2017, according to the United States Federal Reserve. Historically, United States - Import Price Index: Iron and steel mills and ferroalloy manufacturing for Eastern Europe, Latin America, OPEC countries, and other countries in Asia, Africa, and the Western Hemisphere (DISCONTINUED) reached a record high of 100.00000 in June of 2012 and a record low of 53.80000 in January of 2016. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Import Price Index: Iron and steel mills and ferroalloy manufacturing for Eastern Europe, Latin America, OPEC countries, and other countries in Asia, Africa, and the Western Hemisphere (DISCONTINUED) - last updated from the United States Federal Reserve on November of 2025.

China Import Price: Iron Ore & Concentrate: Asia: United Arab Emirates data was reported at 106.085 USD/Ton in Mar 2025. This records an increase from the previous number of 80.550 USD/Ton for Feb 2025. China Import Price: Iron Ore & Concentrate: Asia: United Arab Emirates data is updated monthly, averaging 102.083 USD/Ton from Jun 2008 (Median) to Mar 2025, with 129 observations. The data reached an all-time high of 84,000.000 USD/Ton in Dec 2020 and a record low of 42.102 USD/Ton in May 2015. China Import Price: Iron Ore & Concentrate: Asia: United Arab Emirates 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, the average price of iron oxide in the United States was estimated at *** U.S. dollars per kilogram, a slight decrease in comparison to the price reported in the previous year. Nevertheless, when compared to 2019, iron oxide prices in the North American country have nearly tripled. Iron oxide pigments are commonly used in concrete and other building materials.

This presentation and accompanying Excel data provide an iron ore cost curve for 70 mines contributing to over 90% of the seaborne iron ore market, with breakdown of costs into mining, processing, admin, freight and royalties. Specific datasets include: Global Mine Level Cost Costs Global Company Equity Production Costs Country level Production Costs Rio Tinto Cost Curve Vale Cost Curve BHP Billiton Curve. Read More

Revenue is forecast to contract at a compound annual rate of 1.8% over the five years through 2025 to €9.5 billion. The pandemic contributed to significant disruption in iron ore miners’ downstream markets. As China is the largest consumer of iron ore, its strict COVID-19 restrictions hindered demand in 2020 and constrained revenue growth for the period. This was followed by skyrocketing iron ore prices in 2021 as demand suddenly soared following the lifting of some pandemic-related restrictions. However, in the context of a sluggish European market, iron mining revenue failed to recover despite historically high prices. Iron ore prices started to slide in 2022. This, along with persistently weak economic conditions, continued to hinder downstream activity, limiting revenue growth through 2024. European iron ore miners have also contended with growing competition from large foreign miners, like those in China, Australia and Brazil – the world’s largest iron ore producers. This has also pressured profitability, as some of these countries can offer more competitive prices. Iron ore mining revenue is forecast to hike by 1.1% in 2025, mainly due to a modest recovery in steel manufacturing in the EU, the main downstream market for iron ore. Lower inflation and interest rates, along with this, are set to support slightly better industry prospects. Revenue is expected to climb at a compound annual rate of 7.1% over the five years through 2030 to €13.3 billion. Recovering economic conditions will spur renewed demand for iron ore as activity levels support demand from European industries. Large iron ore miners will continue to dominate the market due to the significant capital requirements needed to set up iron ore mining operations.

In 2020, the value of steel production among the Gulf Cooperation Council (GCC) countries was highest in Saudi Arabia, at about **** billion U.S. dollars. The United Arab Emirates followed with a steel production value of approximately **** billion U.S. dollars. Steel and growth While Gulf Cooperation Council (GCC) countries have their unique economic climate, in aggregate, we can say that they are characterized by high economic growth, urbanization, and major infrastructure projects. Such economic conditions are intrinsically entangled with the availability of steel since the distribution of steel end-use is largely concentrated on the building and infrastructure sectors. Thereby, the steel industry in the GCC countries plays a significant economic role. Steel production in GCC countries is reliant on raw material imports such as iron ore. For instance, Oman was listed among the leading iron ore-importing countries worldwide in 2021. Iron ore prices worldwide thus have an essential influence on the steel industry costs in the GCC countries. Crude steel production in GCC countries Crude steel is a semi-finished material that is further refined per purpose into desired steel products. Therefore, crude steel production is closely related to steel production. In recent years, the overall crude steel production in the GCC countries has been stagnant or has slightly dropped. The production volume of the steel sector in the GCC countries decreased from *** million metric tons in 2015 to *** million metric tons of steel in 2020. The production of crude steel in Saudi Arabia was an exception to the overall trend in the GCC countries. The reason for this is that the crude steel production in Saudi Arabia has experienced a rise rather than a stagnation or a reduction in production in recent years.

In value terms, iron and steel articles exports stood at $42B in 2016. The total export value increased at an average annual rate of +1.7% over the period from 2007 to 2016, however, the trend pattern...

In Terms of Revenue, The Electric Arc Furnace (EAF) Steelmaking market was the leading Application with 37.68% Share of total Global Hot Briquetted Iron HBI Market in 2021.

In Terms of Revenue, Gas was the Leading Process with 64.09% Share of total Hot Briquetted Iron HBI Market in 2021.

In Terms of Revenue, The North America market was dominating region with 43.19% Share of total Global Hot Briquetted Iron HBI Market in 2021. The increase in the usage of hot briquetted iron in iron-making applications is the major driving factor for the growth of the hot briquetted iron market. HBI is a modern charge material for use in combination with scrap or it can be used as an addition to blast furnaces in ironmaking applications. Furthermore, the rising number of furnace steel mills across the world is anticipated to propel the demand for HBI during the forecast period. For example, the global steelmaking market produced around 1.85 billion tonnes of crude steel in 2019. The iron and steel industry is economically important and most countries considered it as one of national strategic importance. However, less awareness about the product may act as a restraining factor for this market. Environment-friendly production technologies in steel manufacturing will create enormous opportunities for the global hot-briquetted iron market during the forecast period. Increasing the use of iron briquettes in steel mills around the world to reduce global emissions in the iron and steel industry is projected to create a global market of around 39.76 million tonnes of iron briquettes over the next few years.

Market Dynamics of Hot Briquetted Iron HBI Market

Key Drivers for Hot Briquetted Iron HBI Market

Decarbonization Push in the Steel Industry: Because HBI has a lower carbon footprint than conventional blast furnace inputs, it is a preferred raw material as the global steel industry faces mounting pressure to cut carbon emissions. The sustainability objectives of significant steelmakers are in line with its compatibility with electric arc furnaces (EAFs), which emit less carbon. Growing Adoption of Electric Arc Furnaces (EAFs): As steel production moves away from blast furnaces and toward EAF-based methods, particularly in developed areas, demand for HBI is increasing because it provides a reliable and high-quality iron input for EAFs. Because of its greater density and metallization, it is a dependable feedstock for preserving productivity and output quality in settings with limited scrap.

Worldwide Scrap Scarcity and Quality Issues: Steelmakers are using HBI as a scrap alternative as a result of the shortage of high-quality ferrous scrap in important markets. Particularly in areas where scrap import restrictions or supply quality variations exist, its chemical homogeneity and low impurity levels guarantee steady operation and consistent product quality.

Key Restraints for Hot Briquetted Iron HBI Market

High Capital Costs and Infrastructure Needs: Setting up HBI production facilities requires a significant financial outlay for briquetting lines, sophisticated reduction reactors, and dependable logistics. This restricts production expansion in developing nations with inadequate infrastructure and financial support and makes market entry challenging. Price volatility for raw materials: Because of market and geopolitical factors, the prices of iron ore and natural gas, which are the main inputs for HBI, are subject to swings. These price fluctuations have the potential to have a major effect on profitability and may deter both producers and consumers from entering into long-term agreements or expanding.

Logistics and Handling Difficulties: HBI still needs strong port, rail, or shipping logistics for effective transportation, even with its small size and safety advantages over DRI. The additional handling and storage requirements can raise costs and deter adoption in areas with inadequate transportation infrastructure.

Key Trends for Hot Briquetted Iron HBI Market

Integration of HBI into Green Steel Initiatives: HBI is being incorporated into green steel production processes as nations and businesses make commitments to become carbon neutral. A long-term trend toward sustainable steel inputs is indicated by the growing integration of HBI with hydrogen-based direct reduction in projects in the Middle East and Europe. Regional Expansion and Capacity Additions: To...

European Iron Casting Labour Cost Per Employee FTE by Country, 2023 Discover more data with ReportLinker!

European Basic Iron, Steel and Ferro-Alloys Labour Cost Per Employee FTE by Country, 2023 Discover more data with ReportLinker!

Explore detailed Iron Ore import data of N A in the USA—product details, price, quantity, origin countries, and US ports.