Open pit iron mine

Iron Ore Price Outlook

Iron ore prices remained largely stable in recent weeks. The benchmark iron ore 62% Fe import price including freight and insurance at the Chinese port of Tianjin traded at USD 86.5 per metric ton on 8 March, which was down 0.9% from the same day in February. However, the price was 19.1% higher on a year-to-date basis and was up 15.3% from the corresponding day last year. Prices notched strong gains in the wake of the collapse of a dam in Brazil owned by Vale, the world’s largest iron ore producer. Brazilian authorities revoked Vale’s license to operate a dam for the Brucutu mine which, coupled with the company’s decision to decommission its remaining upstream tailing dams, have squeezed global iron ore supply, leading to a marked jump in prices. In addition, prices shot up to a near two-year high in mid-February amid the resumption of trading in China after the week-long Lunar New Year holiday. Nevertheless, prices moderated somewhat ever since, weighed on by the news of falling iron ore imports in China in the first two months of the year and weakening factory output in the world’s largest manufacturer.

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

2013  2014  2015  2016  2017  2018  
Iron Ore136.58  97.34  55.82  58.61  71.77  69.67  

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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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