Open pit iron mine

Iron Ore Price Outlook

Iron ore prices continued to recover losses in recent weeks, largely amid expectations of looser output curbs from top-consumer China once the country’s winter Olympics end. On 14 January, the benchmark iron ore 62% Fe import price including freight and insurance at the Chinese port of Tianjin traded at USD 130.0 per metric ton (mt), which was 12.6% higher than on the same day last month. Meanwhile, the price was up 6.1% on a year-to-date basis but it was 24.6% lower than on the same day last year. Following several months—roughly between July and November 2021—of protracted losses, prices for the steel-making commodity continued to gain ground over the past month, amid rising hopes of stronger Chinese demand ahead. With the end-date of the country’s winter Olympics—which prompted China to introduce tight steel output restrictions to improve its air quality—coming closer, investors have adopted a more bullish stance, amid hopes of stronger activity at steel mills and renewed stockpiling efforts ahead of the Chinese New Year. However, already-high levels of inventories and a downbeat property sector in China likely capped the rise.

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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