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

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.

Snapshot img

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?

Get Key Insights on Market Forecast (PDF) Request Free Sample

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.

Request Free Sample

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

Explore the complex factors influencing iron ore prices in USD in late 2023, including supply chain disruptions, geopolitical tensions, demand from China, sustainable technologies, currency fluctuations, and global economic conditions.

Iron ore miners have faced difficult trading conditions because of easing iron ore prices over the past few years, despite the nation maintaining its status as the world's largest iron ore supplier and benefiting from proximity to Asian markets. However, modest growth in production volumes has partly offset revenue declines. Industry revenue is expected to have sunk at an annualised 1.7% over the five years through 2024-25, to $131.5 billion. Easing iron ore prices, driven primarily by a slowdown in China's construction sector and soaring supply, are weighing on iron ore miners' revenue and export values. Despite an economic stimulus from the Chinese government aimed at its property sector, iron ore prices are poised to remain low throughout 2024-25, prompting an anticipated revenue slump of 18.0% over the year. Iron ore prices remained volatile in the first half of 2025, with sweeping US tariffs initially weakening market sentiment and pushing prices down. The following scaling back of these tariffs helped fuel a partial recovery in iron ore prices. The industry’s profitability has eroded over recent years – including an expected drop in 2024-25 – because of lower prices and soaring input costs. Australia's domestic iron ore production has grown from 911.1 million tonnes in 2019-20 to an estimated 968.7 million tonnes in 2024-25. Expansion plans and investments by prominent producers like BHP, Rio Tinto and Fortescue in projects like the South Flank, Gudai-Darri and Iron Bridge operations have fuelled this growth. Rising input expenses, attributable to inflation and labour shortages, along with weak iron ore prices, are forcing producers to undertake aggressive cost-slashing measures, prompting market leaders to undertake job cuts and maintain lean operations. Operating at a lower end of the cost curve will be crucial for Australian iron ore miners to ride out market volatility over the coming years. While Australia is on track to ramp up production to over 1.0 billion tonnes by 2026-27, iron ore prices are projected to fall over the five years through 2029-30 because of surging supply from producers in Australia and Brazil and new mines like the Simandou project. Iron ore miners' revenue is forecast to contract at an annualised 3.9% over the five years through 2029-30, to $107.8 billion. Major companies are set to continue dominating the iron ore mining sector due to several expansion projects. The industry focus will likely shift towards emerging opportunities in the green iron and steel market, spurred by initiatives like the $1.0 billion Green Iron Investment Fund.

Iron Ore: Average Sale Price: Lumps: 55 - 58% Fe: Orissa data was reported at 3,025.000 INR/Ton in Oct 2023. This records a decrease from the previous number of 3,076.000 INR/Ton for Oct 2022. Iron Ore: Average Sale Price: Lumps: 55 - 58% Fe: Orissa data is updated monthly, averaging 2,330.000 INR/Ton from Feb 2011 (Median) to Oct 2023, with 140 observations. The data reached an all-time high of 6,305.000 INR/Ton in Jun 2021 and a record low of 345.000 INR/Ton in Mar 2011. Iron Ore: Average Sale Price: Lumps: 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.

This dataset shows the international price for iron ore and scrap (raw materials required for steel making)

China Import Price: Iron Ore & Concentrate: Africa: Zimbabwe data was reported at 18,100.000 USD/Ton in Sep 2024. This records an increase from the previous number of 13,087.049 USD/Ton for Oct 2023. China Import Price: Iron Ore & Concentrate: Africa: Zimbabwe data is updated monthly, averaging 13,043.524 USD/Ton from May 2014 (Median) to Sep 2024, with 10 observations. The data reached an all-time high of 36,100.000 USD/Ton in Jun 2021 and a record low of 228.333 USD/Ton in Aug 2020. China Import Price: Iron Ore & Concentrate: Africa: Zimbabwe 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: Africa: Uganda data was reported at 149.880 USD/Ton in Feb 2025. This records a decrease from the previous number of 12,031.250 USD/Ton for Mar 2024. China Import Price: Iron Ore & Concentrate: Africa: Uganda data is updated monthly, averaging 198.613 USD/Ton from Jun 2011 (Median) to Feb 2025, with 13 observations. The data reached an all-time high of 19,051.567 USD/Ton in Aug 2013 and a record low of 101.005 USD/Ton in Oct 2014. China Import Price: Iron Ore & Concentrate: Africa: Uganda 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.

Graph and download economic data for Producer Price Index by Industry: Other Metal Ore Mining (PCU212290212290) from Dec 1985 to Jul 2023 about ore, mining, metals, PPI, industry, inflation, price index, indexes, price, and USA.

Iron Ore: Average Sale Price: Fines: 62 - 65% Fe: Karnataka data was reported at 5,439.000 INR/Ton in Dec 2024. This records an increase from the previous number of 5,295.000 INR/Ton for Nov 2024. Iron Ore: Average Sale Price: Fines: 62 - 65% Fe: Karnataka data is updated monthly, averaging 2,912.000 INR/Ton from Aug 2009 (Median) to Dec 2024, with 185 observations. The data reached an all-time high of 7,144.000 INR/Ton in Aug 2021 and a record low of 804.000 INR/Ton in Aug 2009. Iron Ore: Average Sale Price: Fines: 62 - 65% Fe: Karnataka 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 how the Platts Iron Ore Index (IODEX) serves as a critical benchmark for global iron ore prices, reflecting market dynamics and economic factors affecting the industry. Understand the assessment process, pricing fluctuations, and their impact on steel manufacturing and global commodities markets.

China Import Price: Iron Ore & Concentrate: Africa: Cameroon data was reported at 4,006.536 USD/Ton in Feb 2025. This records an increase from the previous number of 27.992 USD/Ton for Nov 2024. China Import Price: Iron Ore & Concentrate: Africa: Cameroon data is updated monthly, averaging 2,052.386 USD/Ton from Dec 2014 (Median) to Feb 2025, with 4 observations. The data reached an all-time high of 10,564.516 USD/Ton in Dec 2014 and a record low of 27.992 USD/Ton in Nov 2024. China Import Price: Iron Ore & Concentrate: Africa: Cameroon 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: Latin America: Chile data was reported at 120.068 USD/Ton in Mar 2025. This records an increase from the previous number of 117.585 USD/Ton for Feb 2025. China Import Price: Iron Ore & Concentrate: Latin America: Chile data is updated monthly, averaging 121.459 USD/Ton from Jan 2008 (Median) to Mar 2025, with 205 observations. The data reached an all-time high of 240.102 USD/Ton in Aug 2021 and a record low of 45.764 USD/Ton in Feb 2016. China Import Price: Iron Ore & Concentrate: Latin America: Chile 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 Price in Poland - 2023. Find the latest marketing data on the IndexBox platform.

Iron Ore: Average Sale Price: Fines: 55 - 58% Fe: Goa data was reported at 3,060.000 INR/Ton in Dec 2024. This records an increase from the previous number of 2,938.000 INR/Ton for Nov 2024. Iron Ore: Average Sale Price: Fines: 55 - 58% Fe: Goa data is updated monthly, averaging 1,739.000 INR/Ton from Feb 2011 (Median) to Dec 2024, with 47 observations. The data reached an all-time high of 3,491.000 INR/Ton in Sep 2011 and a record low of 682.000 INR/Ton in Jan 2016. Iron Ore: Average Sale Price: Fines: 55 - 58% Fe: Goa 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 current trends affecting iron ore prices, including global demand, production disruptions, and economic conditions. Understand how major factors like construction slowdowns and geopolitical shifts impact the market, with insights from experts on the future price outlook.

CN: Import Price: Iron Ore & Concentrate: Europe: Azerbaijan data was reported at 51.313 USD/Ton in Apr 2015. This records a decrease from the previous number of 140.380 USD/Ton for May 2014. CN: Import Price: Iron Ore & Concentrate: Europe: Azerbaijan data is updated monthly, averaging 140.480 USD/Ton from Feb 2011 (Median) to Apr 2015, with 20 observations. The data reached an all-time high of 196.110 USD/Ton in Feb 2011 and a record low of 51.313 USD/Ton in Apr 2015. CN: Import Price: Iron Ore & Concentrate: Europe: Azerbaijan 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.

United States - Producer Price Index by Commodity: Metals and Metal Products: Gold Ores was 444.72200 Index Jun 1985=100 in December of 2021, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Metals and Metal Products: Gold Ores reached a record high of 515.90000 in August of 2020 and a record low of 78.40000 in April of 2001. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Metals and Metal Products: Gold Ores - last updated from the United States Federal Reserve on December of 2025.

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