Prices for iron ore cargoes with a 63.5% iron content for delivery into Tianjin bottomed around $110 per tonne, not fat from a seven-month low of $100 amid lingering worries about a potential global recession, China's property crisis, steel production cuts, and recently US-China tensions over Taiwan. Weak global demand will help turn the iron ore market to a significant surplus over the second half of 2022, which, in turn, poses a significant downside risk for prices. Still, a rebound in steel margins in China has prompted the restart of some of the idled blast furnaces, easing some of the concerns over weak demand.

Historically, Iron Ore reached an all time high of 229.50 in May of 2021. Iron Ore - data, forecasts, historical chart - was last updated on August of 2022.

Iron Ore is expected to trade at 107.24 USD/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 95.41 in 12 months time.

Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
Iron Ore

Price Day Month Year
Gold 1,791.66 -2.42 -0.14% 3.34% 2.29%
Silver 20.45 -0.059 -0.29% 7.13% -13.09%
Copper 3.61 0.0136 0.38% 5.04% -17.37%
Steel 4,093.00 -12.00 -0.29% 1.56% -23.54%
Iron Ore 111.50 -1.50 -1.33% -0.89% -32.63%
Lithium 476,500.00 0 0% 0.21% 396.35%
Platinum 932.97 -0.67 -0.07% 7.30% -8.31%

Iron Ore
Iron ore prices refer to Iron Ore Fine China Import 63.5 percent grade Spot Cost and Freight for the delivery at the Chinese port of Tianjin. Is used to make steel for infrastructure and other construction projects. The biggest producers of iron ore are China, Australia and Brazil. Others include India, Russia, Ukraine and South Africa.
Actual Previous Highest Lowest Dates Unit Frequency
111.50 113.00 229.50 39.00 2007 - 2022 USD/MT Daily