Iron Ore Price OutlookIron ore prices continued to slide in recent weeks, due to concerns of waning demand in top consumer China and increased supply—notably from Brazil. On 10 September, the benchmark iron ore 62% Fe import price including freight and insurance at the Chinese port of Tianjin traded at USD 131.5 per metric ton (mt), which was down 21.3% from the same day last month. Moreover, the price was 18.3% lower on a year-to-date basis but it was up 3.5% from the same day last year. Prices for the steel-making commodity fell to an eight-month low in early September, weighed on by the announcement of steel output curbs in China’s Handan city—a key producing site. On top of this, Chinese authorities recently extended curbs in Tangshan city until March next year, in order to improve air quality ahead of the 2022 Winter Olympics. This, coupled with signs of a slowing recovery in the country, amid weaker-than-expected industrial output, retail sales and fixed asset investment growth in July, raised additional concerns over future demand from the Asian giant. Meanwhile, a spike in iron ore exports from top producer Brazil in August put further pressure on prices.
Iron Ore Price History Data (USD per metric ton, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Iron Ore Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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