Iron Ore Price Outlook

Iron ore prices continued on their upward trend in recent weeks, largely owing to upbeat demand for steel. On 11 September, the benchmark iron ore 62% Fe import price including freight and insurance at the Chinese port of Tianjin traded at USD 125.5 per metric ton (mt), which was up 5.9% from the same day in August. Moreover, the price was 34.9% higher on a year-to-date basis and it was up 34.9% from the same day last year. Prices for the steel-making ingredient gained further ground over the previous month due to strong demand dynamics, particularly from China, the world’s top steel producer and consumer. Recovering consumption of steel products in the Chinese construction and manufacturing sectors led to a surge in demand for iron ore, with the autumn construction season likely to provide a further boost. Moreover, demand outside of China also showed signs of recovery, with exports from Australian miners picking up. Meanwhile, some supply fears remained as investors were still concerned over Brazilian output amid a persistently high Covid-19 infection rate and elevated number of deaths.

Iron Ore Price History Data (USD per metric ton, aop)

2015  2016  2017  2018  2019  
Iron Ore 55.82  58.61  71.77  69.67  93.88  

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Iron Ore Historical Price Chart


Iron Ore historical price chart
Note: Iron ore Fines 62% Fe - CFR China Port, prices in USD per metric ton (mt). Daily prices.

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities

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