Iron ore prices averaged USD 108.47 per metric ton in May, up 2.3% from April. On 29 May, the commodity traded at USD 105.60 per metric ton, down 1.7% from 30 April.
Iron ore prices continued to climb in May, marking a third consecutive monthly gain. Higher energy and shipping costs linked to the Middle East conflict, coupled with concerns over fuel-related supply disruptions in Australia, underpinned the market. At the same time, stronger-than-expected demand in China following a five-day holiday break provided additional support.
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 | - | 112.94 | 100.21 | 102.01 | 101.62 | 95.58 | 100.07 | 103.34 | 102.93 | - | - | - |