Prices for iron ore cargoes with a 63.5% iron content for delivery into Tianjin fell to $98 per tonne, equalling the 10-month low hit twice during September amid further concerns of low demand for steel and industrial inputs in top consumer China ahead of their week-long holiday. While official NBS Manufacturing PMI pointed to a broad stagnation, the broader Caixin PMI measurement pointed to an unexpected and accelerated decline from the previous month. The concerning data restored fears that the rollout of stimulus failed to spur a significant rebound in economic activity following thin power rationing and strict covid lockdowns. Expectations that demand for industrial inputs could remain subdued limited the support that lower steel stocks had on iron ore prices.

Historically, Iron Ore reached an all time high of 229.50 in May of 2021. Iron Ore - data, forecasts, historical chart - was last updated on October of 2022.

Iron Ore is expected to trade at 94.60 USD/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 85.09 in 12 months time.

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Iron Ore

Price Day Month Year
Gold 1,699.09 -0.13 -0.01% -0.65% -3.46%
Silver 20.83 0.078 0.38% 14.71% -8.06%
Copper 3.47 0.0082 0.24% 0.72% -17.51%
Steel 3,936.00 -38.00 -0.96% 1.63% -33.57%
Iron Ore 98.00 0 0% -2.97% -10.91%
Lithium 510,500.00 0 0% 3.24% 190.06%
Platinum 905.02 2.52 0.28% 7.01% -5.91%

Iron Ore
Iron ore prices refer to Iron Ore Fine China Import 63.5 percent grade Spot Cost and Freight for the delivery at the Chinese port of Tianjin. Is used to make steel for infrastructure and other construction projects. The biggest producers of iron ore are China, Australia and Brazil. Others include India, Russia, Ukraine and South Africa.
Actual Previous Highest Lowest Dates Unit Frequency
98.00 98.00 229.50 39.00 2007 - 2022 USD/MT Daily