Open pit iron mine

Iron Ore Price Outlook

Iron ore prices lost considerable ground over the past month, largely reflecting easing concerns over supply tightness. On 9 October, the benchmark iron ore 62% Fe import price including freight and insurance at the Chinese port of Tianjin traded at USD 123.0 per metric ton (mt), which was 3.1% lower than on the same day in September. However, the price was up 32.3% on a year-to-date basis and it was 30.9% higher than on the same day last year. Prices for the steel-making commodity fell sharply in recent weeks as rising port inventories and signs of normalizing supply more than offset strong demand dynamics from China, the world’s top steel producer and consumer. Stockpiles remained elevated after hitting the highest level since April in early September as congestion at Chinese ports eased. Moreover, data showing increased shipments from key exporters Australia and Brazil in September suggests supply is catching up with demand, thus easing fears over market tightness and exerting downward pressure on prices.

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

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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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