Iron Ore Price Outlook

Iron ore prices rose in recent weeks on stronger demand as well as on Brazilian supply concerns. On 15 May, the benchmark iron ore 62% Fe import price including freight and insurance at the Chinese port of Tianjin traded at USD 91.7 per metric ton (mt), which was up 6.0% from the same day in April. However, the price was 1.4% lower on a year-to-date basis and was down 4.0% from the same day last year. Prices for the steel-making ingredient regained some ground over the past month as steel mills in China ramped up production amid higher profit margins and as domestic stimulus measures have fueled the resumption of property and infrastructure projects. Iron ore prices were further supported by concerns over Brazilian supply as the coronavirus continues to rapidly spread across the country. Although there have been no confirmed cases thus far near the mining areas, and while the authorities have decreed mining and its related activities are essential operations, the rapid spread of the virus to the iron-ore-producing northern Para state has stoked fears of supply disruptions.

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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