Open pit iron mine

Iron Ore Price Outlook

Iron ore prices receded in recent days but remained notably above the lows recorded in the second half of 2017. The benchmark iron ore 62% Fe import price including freight and insurance at the Chinese port of Tianjin traded at USD 78.0 per metric ton on 9 February. The price was down 0.3% from the same day last month but was 4.8% higher on a year-to-date basis. The price was down 7.1% from the corresponding day last year. Events in China have been driving the price fluctuations in iron ore. The recent price moderation is on the back of reduced demand ahead of the long Lunar New Year holiday break. The downturn comes despite a recent announcement by policymakers in Tangshan, a major steel producing city in China, that production cuts will be extended. A clampdown on pollution had led to steel output cuts in China, causing a surge in iron ore prices in recent months. Many of the curbs are likely to be lifted in mid-March as the winter heating season ends, dampening pollution concerns.

Iron Ore Price History Data (USD per metric ton, aop)

2012  2013  2014  2015  2016  
Iron Ore131.83  136.58  97.34  55.82  58.61  

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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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