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 105.44 USD/T on September 19, 2025, up 0.19% from the previous day. Over the past month, Iron Ore's price has risen 3.86%, and is up 14.70% 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 September of 2025.

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.

Iron ore prices in , August, 2025 For that commodity indicator, we provide data from January 1960 to August 2025. The average value during that period was 48.8 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

Quarterly iron ore prices have globally declined since the first quarter (Q1) of 2023, when they stood at approximately ****** U.S. dollars per metric ton. By Q2 2025, one metric ton of iron ore cost around ***** U.S. dollars, representing a decline of about ***** U.S. dollars per metric ton of iron ore worldwide since Q1 2023.

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.

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.

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.

In the fiscal year 2022, the average import price of iron ore in Japan amounted to around ***** thousand Japanese yen per ton. Iron ore is one of the basic raw materials needed to produce steel, of which Japan is one of the leading producers worldwide.

View monthly updates and historical trends for Iron Ore Spot Price (Any Origin). Source: World Bank. Track economic data with YCharts analytics.

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 November 2022, the iron ore price was $41.5 per ton (FOB, India), a decrease of 1.7% from the previous month.

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.

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.

In 2024, the Nigerien iron ore market decreased by -69.2% to $425K, falling for the third year in a row after six years of growth. Overall, consumption recorded a abrupt shrinkage. As a result, consumption attained the peak level of $4.9M. From 2022 to 2024, the growth of the market remained at a lower figure.

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.

In 2024, the Kenyan iron ore market increased by 15% to $78M, rising for the fifth consecutive year after two years of decline. Over the period under review, consumption recorded significant growth. Over the period under review, the market attained the maximum level in 2024 and is expected to retain growth in the immediate term.

In 2024, the Pakistani iron ore market decreased by -16.6% to $33M, falling for the second consecutive year after three years of growth. Overall, consumption continues to indicate a abrupt slump. Iron ore consumption peaked at $92M in 2013; however, from 2014 to 2024, consumption stood at a somewhat lower figure.

The 2020 coronavirus (Covid-19) pandemic has had a noteworthy impact on commodities prices, including metals such as iron ore. The impact of Covid-19 on the global iron ore industry is apparent from the decline in the average year-to-date price of iron ore as of May 2020 (***** U.S. dollars per metric ton) as compared to the average price in 2019 (***** U.S. dollars per metric ton). Compared to other metals, however, iron ore prices have stayed relatively resilient, and are expected to recover further during 2020 once China's steel production increases again.

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.