Iron Ore Prices

Iron ore prices averaged USD 96.30 per metric ton in August, down 2.0% from July. On 31 August, the commodity traded at USD 100.00 per metric ton, up 4.8% from 31 July.

Average iron ore prices were the lowest in over a year in August, likely weighed on by ample supply from top producers Australia and Brazil, as well ?as new producer Guinea in West Africa. This is despite solid Chinese iron ore imports in the year to date; China consumes around three quarters of the world’s seaborne iron ore.