Open pit iron mine

Iron Ore Price Outlook

Iron ore prices recovered somewhat in recent weeks, supported by growing supply concerns amid the announced production capacity restrictions in China on environmental grounds. The benchmark iron ore 62% Fe import price including freight and insurance at the Chinese port of Tianjin traded at USD 67.0 per metric ton on 3 August. The price was up 3.9% from the same day last month and was 9.9% lower on a year-to-date basis. Moreover, the price was down 9.5% from the corresponding day last year. Changes in iron ore prices have been closely associated with developments in China, the world’s largest maker, consumer and exporter of steel. A mixture of healthy demand and the announced production curbs in the major Chinese industrial city of Tangshan have exerted upward pressure on the prices in recent weeks. Meanwhile, inventory levels declined in the past month, and, coupled with elevated Chinese steel prices, further supported momentum in iron ore price growth. Nevertheless, fears over the health of the Chinese economy prevented further price gains, while a planned higher 25% tariff on $200 billion worth of Chinese imports announced by the U.S. administration at the beginning of August weighed on the prices at the beginning of the month.

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

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

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities.

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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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