Open pit iron mine

Iron Ore Price Outlook

Iron ore prices continued to lose ground over the past month amid increased supply in the global market. On 6 November, the benchmark iron ore 62% Fe import price including freight and insurance at the Chinese port of Tianjin traded at USD 118.5 per metric ton (mt), which was 1.7% lower than on the same day in September. That said, the price was up 27.4% on a year-to-date basis and it was 41.9% higher than on the same day last year. Prices for the steel-making commodity continued to extend losses in recent weeks, largely owing to rising supply, while somewhat softer demand dynamics in top steel consumer and producer China exerted further downward pressure. Rising port stockpiles in China, coupled with weaker physical demand for steel products and raw materials, soured market sentiment. Moreover, a pickup in shipments from key exporters Australia and Brazil signaled further normalization of supply, weighing on prices, and sent Chinese port inventories to the highest level since mid-February in the last week of October.

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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