Iron Ore fell to 96.71 USD/T on July 11, 2025, down 0.05% from the previous day. Over the past month, Iron Ore's price has risen 1.31%, but it is still 11.74% 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.

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 CNY rose to 766 CNY/T on July 11, 2025, up 0.20% from the previous day. Over the past month, Iron Ore CNY's price has risen 9.04%, but it is still 7.38% 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.

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

This dataset includes real-time and historical Iron Ore prices, global market insights, trading data, and demand forecasts provided by Bigmint.

Discover the latest trends in the iron ores and concentrates market and projections for the next decade. Anticipated growth in market volume to 4,371M tons and market value to $492.3B by 2035.

In June 2023, the price of Iron Ore amounted to $69.1 per ton (FOB, Brazil), decreasing by -16.9% compared to the previous month.

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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 primarily by the increasing consumption of high-strength iron ore in the production of stainless steel. The economic expansion in major consumers China and India is fueling this demand, as both countries continue to invest heavily in infrastructure projects and industrial development. However, this market is characterized by high capital requirements, making it a challenging landscape for new entrants. The need for substantial investment in mining and processing facilities, as well as the rising costs of exploration and extraction, pose significant obstacles for companies seeking to capitalize on market opportunities.
Despite these challenges, the potential rewards are substantial, with the ongoing demand for steel and iron ore showing no signs of abating. 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 navigate these challenges effectively, through strategic partnerships, technological innovation, and operational efficiency, are well-positioned to thrive in this dynamic market.

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

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market continues to exhibit dynamic and evolving characteristics, with various sectors and processes interconnected in intricate ways. Stainless steel, a high-performance alloy, relies on resource estimation and the availability of low-grade iron ore for its production. Waste management plays a crucial role in the mining process, with iron ore mining and mine planning requiring effective strategies to minimize environmental impact. Metallurgical coke, a vital ingredient in steelmaking, is produced through mineral processing and supplied through the complexities of supply chain management. Plate steel, a major application of iron ore, is manufactured using continuous casting and hot rolling, while electric arc furnaces and blast furnaces transform iron ore pellets and pig iron into various steel grades.

Sponge iron, an alternative to traditional ironmaking, is produced through direct reduction, offering potential for reduced carbon footprint. Mine safety, mine closure, and geological surveys are essential aspects of the industry, ensuring efficient and sustainable operations. The market is influenced by commodity markets, geopolitical factors, and environmental regulations. Port handling, rail transport, and sea transport are integral to the logistics of moving raw materials and finished products. Steel production, from open-pit mining to underground mining and from pellet production to pipe steel manufacturing, is a continuous process that adapts to changing market conditions. Futures contracts and quality control are essential tools for managing risk and ensuring consistency in the supply chain.

The ongoing evolution of the market is shaped by the interplay of these various sectors and processes, with each influencing the other in a complex web of interdependencies.

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
    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.

Iron ore fines, the crushed form of high-grade iron ore, play a crucial role in the steel production process. Due to their small particle size, they cannot be directly used in blast furnaces as they obstruct the airflow. Instead, they undergo a process called sintering. In this process, fines are mixed with other materials such as pig iron, metallurgical coke, and limestone to form sinter. The use of iron ore fines in sintering allows for better control of the iron ore and

Chinese iron ore prices rise to $99/t as steel market faces challenges. Discover the factors influencing these trends and the role of government interventions.

Hematite: Purest form of iron ore with highest iron content, primarily used in steel production.Magnetite: Contains a high percentage of iron oxide, often used in the production of high-quality steel.Limonite: Hydrated form of iron oxide, suitable for low-grade steel production and iron ore pigments.Siderite: Contains iron carbonate, primarily used in the production of steel and iron castings.Others: Includes iron ore with low iron content or impurities, such as taconite and laterite. Recent developments include: February 2021: Vale S.A. has begun running six self-driving haul trucks at the Carajás iron ore complex in Pará, Brazil. This program is part of a larger plan to improve employee safety, make the business more ecologically friendly, and gain competitiveness., February 2021: Mikhailovsky GOK (a subsidiary of Metalloinvest) announced the agreement with a consortium led by Midrex Technologies and Primetals Technologies to supply equipment for the HBI plant's development. The contract covers mechanical and electrical equipment engineering and supply, steel construction, plumbing, ducting, and training and advising services.. Key drivers for this market are: Infrastructure development and urbanization in emerging economies. Growth in the automotive and construction industries. Technological advancements in iron ore extraction and processing.. Potential restraints include: Depletion of iron ore reserves and environmental concerns. Fluctuating demand and prices due to economic conditions. Political and regulatory uncertainties affecting mining operations.. Notable trends are: Sustainable mining practices and waste reduction. Digitalization and automation in mining operations. Development of new iron ore sources and exploration in remote areas..

China Import Price: Iron Ore & Concentrate: Oceania: New Caledonia data was reported at 12,820.513 USD/Ton in Oct 2012. China Import Price: Iron Ore & Concentrate: Oceania: New Caledonia data is updated monthly, averaging 12,820.513 USD/Ton from Oct 2012 (Median) to Oct 2012, with 1 observations. The data reached an all-time high of 12,820.513 USD/Ton in Oct 2012 and a record low of 12,820.513 USD/Ton in Oct 2012. China Import Price: Iron Ore & Concentrate: Oceania: New Caledonia 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 stock price, live market quote, shares value, historical data, intraday chart, earnings per share and news.

New Zealand’s Iron Ore Mining industry has faced significant challenges following a sharp fall in iron ore prices from 2021-22 peaks. These declines have resulted from increased global supply, especially from Brazil and weakened demand from China’s construction and property sectors. While domestic steel demand has been relatively resilient, supported by infrastructure projects, high inflation and rising interest rates have pressured construction activity. Export demand, historically reliant on China, has diminished as China’s construction sector softened, further increasing external pressures. The industry remains highly concentrated, dominated by New Zealand Steel Limited and Taharoa Mining Investment Limited, both operating distinct mines with different iron content and market focuses. High entry barriers, complex regulatory approval processes and growing environmental activism discourage new entrants. Overall, falling iron ore prices, combined with rising operational costs, have squeezed profit margins. Overall, revenue is anticipated to fall at an annualised 4.1% over the five years through 2025-26, to $220.0 million. This includes an expected plunge of 4.6% in 2025-26 as iron ore prices soften.

Iron ore prices are expected to continue to decline over the next five years as global supply increases, particularly with the ramp-up of major projects in Australia, Brazil and Africa, including the Simandou iron ore project. This oversupply, combined with weaker Chinese construction demand, is likely to suppress industry-wide revenue and intensify competition, especially for export-focused operators like Taharoa. Domestically, demand for steel is forecast to grow as interest rates fall and infrastructure investment increases, helping to partially offset falling export revenue and supporting integrated producer New Zealand Steel. New offshore mining projects, like Trans-Tasman Resources’ South Taranaki Bight venture, could present growth opportunities if regulatory approval is secured, shaping the industry’s outlook. Revenue is forecast to decline at an annualised 0.7% through the end of 2030-31, to total $212.6 million.

Manganese traded flat at 29.45 CNY/mtu on July 11, 2025. Over the past month, Manganese's price has risen 0.34%, but it is still 16.45% lower than a year ago, 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.

The size of the Iron Ore Market was valued at USD 278.44 billion in 2023 and is projected to reach USD 306.90 billion by 2032, with an expected CAGR of 1.4 % during the forecast period. Iron ore market has been a significant component of the world mining industry, as iron ore has been constantly in demand as a raw material used in steel production. Iron ore remains essential in the production of high-quality steel, which is used to make everything from buildings and bridges to automobiles and machinery, and hence it remains the backbone of the global construction, automotive, infrastructure, and manufacturing sectors. The market is influenced by trends in steel production, and some of the largest consumers of iron ore are China, India, and Japan, whose massive steel industries drive up the demand for these commodities. The global iron ore market is highly subject to demand fluctuations, which are often linked to the global economic conditions. For instance, during the expansionary phases of the economy, especially in emerging economies, steel demand increases, thereby driving up iron ore prices. Conversely, during the slowdown phases of the economy, demand for steel—and consequently iron ore—may decline. Production and supply chain dynamics also influence the market. Preeminent producers in the global marketplace, Australia, Brazil, and India are also leaders in supply. Recent developments include: In April 2024, Australia-based Strike Resources Limited, an iron ore company, completed its negotiations to sell its Pilbara Paulsens East Iron Ore Project to Australia-based Miracle Iron Holdings for ~USD 13.4 million (A$ 20.5 million). .

The global iron ore powder market is experiencing robust growth, driven by increasing demand from various sectors. While precise figures for market size and CAGR were not provided, a reasonable estimation can be made based on industry trends. Considering the presence of major players like Rio Tinto and other significant producers, and the vital role iron ore powder plays in steel production, construction, and other industries, the 2025 market size is likely in the range of $15-20 billion USD. Assuming a moderate CAGR of 5-7% for the forecast period (2025-2033), this would translate to a market value of $22-30 billion USD by 2033. Several factors contribute to this positive outlook. The global infrastructure boom, particularly in developing economies, fuels demand for steel, directly boosting the need for iron ore powder. Technological advancements in iron ore processing are leading to higher-quality products, improved efficiency, and reduced environmental impact, further enhancing market growth. However, fluctuating iron ore prices, environmental regulations, and potential supply chain disruptions pose challenges to sustained growth. The market is segmented by various factors, including powder type, application, and geographic region, which present opportunities for specialized players. The competitive landscape is relatively consolidated, with established companies like Rio Tinto and Höganäs holding significant market shares. However, emerging players and technological innovations could disrupt the market dynamics in the coming years. Growth opportunities will be further shaped by increased focus on sustainable production practices and the development of new applications for iron ore powder in emerging industries like 3D printing and advanced materials. This evolving landscape necessitates careful monitoring of global economic conditions, technological advancements, and regulatory developments to accurately predict market trajectories and capitalize on emerging opportunities. The forecast period anticipates sustained, albeit potentially fluctuating, growth, driven by industrial needs, technological progress, and strategic investments.

Iron Ore Market size was valued at USD 339.79 Billion in 2023 and is projected to reach USD 420.59 Billion by 2030, growing at a CAGR of 2.59 % during the forecasted period 2024 to 2030.

Global Iron Ore Market Drivers

The market drivers for the Iron Ore Market can be influenced by various factors. These may include:

Industrial Production and Infrastructure Development: Steel, a vital component of many sectors like construction, automotive, machinery, and infrastructure, is made from iron ore, a crucial raw material. Thus, the degree of infrastructural development and industrial activity has a big impact on the demand for iron ore, especially in growing economies like China and India.

Steel Production and Consumption: Global trends in steel production and consumption are intimately related to the demand for iron ore. The demand for steel is mostly driven by urbanisation, economic expansion, and construction activity. This, in turn, affects the demand for iron ore.

Global Economic Conditions: The demand for steel and, by extension, iron ore, is directly impacted by economic factors such as GDP growth rates, industrial output, and consumer expenditure. Economic downturns may cause a decline in the demand for steel and iron ore as well as a reduction in industrial activity.

Chinese Steel Industry Dynamics: China makes up a sizable amount of the world's demand for iron ore, making it the country that consumes the most of the resource worldwide. As a result, the iron ore market is greatly impacted by the laws, rules, and economic developments in China's steel sector as well as by the government's intentions for infrastructure spending.

Supply-Side Factors: Production disruptions (like mine closures, labour strikes, or unfavourable weather), adjustments to production capacity, technological advancements in mining methods, and exploration efforts that uncover new ore deposits are some of the factors that impact the supply of iron ore.

China Import Price: Iron Ore & Concentrate: Oceania: New Zealand data was reported at 63.067 USD/Ton in Mar 2025. This records a decrease from the previous number of 63.450 USD/Ton for Feb 2025. China Import Price: Iron Ore & Concentrate: Oceania: New Zealand data is updated monthly, averaging 64.275 USD/Ton from Jan 2008 (Median) to Mar 2025, with 165 observations. The data reached an all-time high of 6,480.000 USD/Ton in Oct 2019 and a record low of 29.113 USD/Ton in Feb 2016. China Import Price: Iron Ore & Concentrate: Oceania: New Zealand 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 miners are facing a turbulent period marked by significant shifts in global steel production dynamics. The Chinese government's mandate in 2021 to reduce steel production growth and a sluggish property sector have led to challenges for iron ore miners. Despite some increased steel output from countries like India, which is boosting its steel production through major infrastructure projects, global miners are still grappling with inconsistent demand and fluctuating prices. Early 2025 brought additional hurdles as prominent producers like Vale, Rio Tinto and BHP struggled with adverse weather conditions, leading to production declines. Industry revenue has been decreasing at a CAGR of 4.0% over the past five years to total an estimated $260.0 billion in 2025, including an estimated drop of 7.1% in 2025. Over the past five years, iron ore miners experienced both highs and lows. Surging prices in 2020 and 2021 led to record profit, driven by China's robust demand and supply chain disruptions. However, that surge was short-lived. Prices began to stabilize and decline, putting pressure on miners' revenue streams and profit. Innovations and investments in technology, such as autonomous machinery and renewable energy, have helped mitigate some of these pressures by improving efficiency and reducing costs, keeping profit elevated. Yet, these advancements couldn't fully offset challenges like labor shortages, as highlighted by prominent miners like BHP and Rio Tinto in 2023.

Iron ore miners will likely continue to endure revenue declines. Prices are expected to drop at a CAGR of 4.8% through 2030. With China's domestic steel demand expected to fall further and trade restrictions placed on the country's steel products, miners may look to emerging markets like India to sustain growth. Shifts toward high-grade iron ore and pelletized products, spurred by greener steel production methods, present new opportunities. Investments in technology and infrastructure will be vital for maintaining profitability. By reducing reliance on human labor and optimizing operations, miners can mitigate profit weakening related to falling prices. Industry revenue is forecast to decrease at a CAGR of 1.3% to total an estimated $243.5 billion through the end of 2030.

China Export: Iron Ore & Concentrates: Oceania: Papua New Guinea data was reported at 0.000 USD th in Mar 2018. This stayed constant from the previous number of 0.000 USD th for Feb 2018. China Export: Iron Ore & Concentrates: Oceania: Papua New Guinea data is updated monthly, averaging 0.000 USD th from Jan 2008 (Median) to Mar 2018, with 123 observations. China Export: Iron Ore & Concentrates: Oceania: Papua New Guinea data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade – Table CN.JL: Export by Country: Iron Ore & Concentrates: Value.