Iron ore prices averaged USD 97.64 per metric ton in September, up 1.4% from August. On 30 September, the commodity traded at USD 94.10 per metric ton, down 5.9% from 31 August.
Average iron ore prices rebounded in September following three months of losses. Momentum was mainly driven by front-loaded purchases ahead of the Chinese Golden Week holiday in October. Hopes for a seasonal pickup in construction activity in September and stronger manufacturing conditions added impetus. That said, inventory drawdowns have been meek recently and prices remain close to the floor of their seasonal range, capped by ample supply.
This chart displays Iron Ore (US$/mt) from 2024 to 2026.
Iron Ore CFR China (prices in US$/mt, aop)
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | Q4 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Iron Ore CFR China | - | - | - | 102.01 | 101.62 | 95.58 | 100.07 | 103.34 | 102.93 | 105.02 | 97.42 | - |