Iron Ore Price OutlookIron ore prices rose slightly in recent weeks, reversing a downward trend observed since the end of February, although prices remained generally subdued. The improvement seen in recent weeks was largely due to more balanced supply and demand dynamics in China, the world’s top steelmaking country. The benchmark iron ore 62% Fe import price including freight and insurance at the Chinese port of Tianjin traded at USD 67.5 per metric ton on 11 May. The price was up 2.3% from the same day last month and was 9.3% lower on a year-to-date basis. Moreover, the price was up 12.5% from the corresponding day last year. Changes in iron ore prices are closely associated with developments in China. In recent months, prices have been weighed down by fears over a potential trade war between Washington and Beijing. Meanwhile, Chinese demand strengthened somewhat in recent weeks, although Chinese imports increased only marginally in April, after recording a double-digit dip in the previous month—most likely as environmental curbs continued to weigh on demand. Meanwhile, China opened iron ore contracts for direct trading to foreign investors at the beginning of May, which helped increase price pressures on the metal.
Iron Ore Price History Data (USD per metric ton, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Iron Ore Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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