Iron Ore Prices | Current and Forecast
Monitor Iron Ore Prices Worldwide
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Monitor monthly Iron Ore price assessments covering 4 locations: South America, Southeast Asia, China and Africa. Also check Iron Ore 10-year price history and forecasts.
The chart below is a sample of Intratec Primary Commodity Prices. Subscribe and access now current prices of 225 commodities, including Iron Ore.
Data Legend. The chart above shows Iron Ore price assessments in USA Dollar per metric ton (USD/mt) in 4 locations, as follows:
- Iron Ore (Conc), SAM (South America): Iron Ore (concentrate, 65% Fe content), export spot price, fob, Brazil
- Iron Ore (Fin-lum), SEA (Southeast Asia): Iron Ore (fines and lumps, 61.5% Fe content), export spot price, fob, Australia
- Iron Ore (Fines), SEA (Southeast Asia): Iron Ore (fines, 63.5% Fe content), export spot price, fob, India
- Iron Ore (Fines), CN (China): Iron Ore (fines, 62% Fe content), import spot price, cfr, Qingdao
- Iron Ore, AFR (Africa): Iron Ore, export transaction price, fob, South Africa
Data Use. Iron Ore prices are provided as an annual subscription where subscribers have access to reliable pricing data of 225 commodities worldwide. Intratec's methodology employs a structured big data strategy that utilizes advanced technologies to extract publicly available data from primary sources such as governmental trade records, statistics bureaus, and international agencies. This data is then processed through mathematical models to generate reliable assessments, published at the very beginning of each month. To better understand the data provided check Intratec Primary Commodity Prices Methodology .
Data Delivery Methods. Iron Ore price assessments are available via different delivery methods: (i) online charts; (ii) directly into Excel (using Intratec Add-in); (iii) in Power BI dashboards or (iv) a web API (to facilitate integration with existing workflows).
Intratec Primary Commodity Prices
Track global current prices of 225 commodities including Iron Ore
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Iron Ore Price Outlook. The price of Iron Ore (Fines, China) increased during December 2019 to 96 USD per metric ton, which represents a slight rise of 2% compared to the previous month’s value. On a year-over-year basis, the prices of Iron Ore (Fines, China) increased significantly by 25%. Meanwhile, the average price of Iron Ore (Fin-lum, Southeast Asia) amounted to 78 USD per metric ton, from 57 USD per metric ton one year earlier. On a month-over-month basis, the price of Iron Ore (Fin-lum, Southeast Asia) is 3% higher than the price one month before.
The price of Iron Ore (Fines, Southeast Asia) declined slightly throughout December 2019, reaching 52 USD per metric ton. The price is 2% lower than the average price in the previous month and 16% higher than the average price one year before. In contrast, the prices of Iron Ore (Africa) decreased modestly during December 2019, reaching 75 USD per metric ton, which means a decline of 0.4% from the previous month’s price and a decline of 3% from the previous year’s price.
The prices of Iron Ore (Conc, South America) experienced a significant decline of 6 USD per metric ton from the prior month's price, to 58 USD per metric ton. Such price movement meant a decrease of 9% on a monthly basis and a rise of 18% on a yearly basis.
About Iron Ore. Iron Ore is a rock or mineral that is a source of metallic iron. Iron is usually found in the form of magnetite (Fe3O4, 72,4% Fe), hematite (Fe2O3, 69,9% Fe), goethite (FeO(OH), 62,9% Fe), limonite (FeO(OH).n(H2O), 55% Fe) or siderite (FeCO3, 48,2% Fe). Both the iron content and the form its being comercialized in (conc, lump or fines) influences its price. Its primary use is the production of iron which is then used to make steel. It is the most used metal by tonnage and purpose. Iron ore extraction takes place in many countries, and this industry is constantly growing due to the wide applicability of iron.
Iron ore prices are heavily influenced by the demand for steel and construction works. In this context, emerging economies play a central role as infrastructure development and urbanization drive the need for steel, directly impacting iron ore demand.
Iron Ore Handling. The iron ore is initially submitted to a treatment before transportation. Nowadays, iron ore is transported over long distances, because only a few ore-producing regions can met the iron ore demand of the most important steel-producing regions. As a consequence, the transportation system represents the main component in the price of iron ore. It can be transported in railroads, ports and ships via network integration with mines.
Iron Ore Production. Raw materials and the respective production processes employed in the manufacturing of Iron Ore are listed below.
- Iron ore deposits (mining)
Iron Ore Uses. The uses and applications of Iron Ore may vary according to its specification. The main forms of Iron Ore are hematite; magnetite; limonite; siderite; goethite; ankerite; and turgite. In addition to the mineral form, there are also differences resulting from the way the ore is produced: concentrate; fines; and lumps. The production of concentrate involves beneficiation processes that upgrade the iron content and reduce the presence of impurities. This results in a product with a higher iron-to-impurity ratio. Fines can be generated as a byproduct during the processing of ore or as a result of natural weathering and erosion. Lumps are often directly mined from the earth and may undergo minimal processing before being shipped.
