| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Iron Ore | China | FOB | USD 116.30/MT | May 2026 |
| Iron Ore | India | FOB | USD 58.30/MT | May 2026 |
| Iron Ore | USA | FOB | USD 107.00/MT | May 2026 |
| Iron Ore | Germany | FOB | USD 104.00/MT | May 2026 |
| Iron Ore | Australia | FOB | USD 105.00/MT | May 2026 |
| Iron Ore | China | FOB | USD 114.07/MT | April 2026 |
Stay updated with the latest Iron Ore prices, historical data, and tailored regional analysis
Asia
In China, the monthly average Iron Ore price was about RMB 0.77/kg in April and ~RMB 0.79/kg in the subsequent month, showing an increase of approx. 1.9%. Prices initially rose on mill restocking and stronger hot metal activity but later weakened as steel margins compressed, steel output declined year-on-year, and port inventories increased, signaling softer end-use demand. Meanwhile, in India, the monthly average Iron Ore price was ~INR 5.34/kg in April and around INR 5.56/kg in the subsequent month, showing an increase of ~4.1%. Prices strengthened due to steady steel production activity and improved procurement from domestic mills, supported by relatively stable industrial demand compared to broader Asian softness.
Europe
In Germany, the monthly average Iron Ore price was approximately EUR 0.09/kg in April and about EUR 0.09/kg in the subsequent month, showing an increase of ~1.8%. Prices remained largely stable as EU crude steel output stayed weak year-on-year, with limited improvement in industrial production and construction activity providing only marginal support to iron ore demand.
North America
In North America, the monthly average Iron Ore price was around USD 104.60/MT in April and about USD 107.00/MT in the subsequent month, showing an increase of ~2.3%. Prices edged higher supported by stronger steel production growth compared to other regions, while industrial production remained stable, but overall global seaborne oversupply limited stronger upward movement.
Analyst Insight
According to Procurement Resource, iron ore prices are expected to remain under pressure with intermittent recovery phases, as strong seaborne supply and rising inventories outweigh uneven steel production recovery across major consuming regions.
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Asia
In China, iron ore prices softened slightly, with prices at 0.85 CNY/kg (Spot FD) in January and 0.82 CNY/kg in March, while quarterly prices were higher by approximately 1.59% compared to the previous quarter. The market was influenced by weak steel demand, stable pig iron production, and continued accumulation of port inventories, which limited upward momentum. Additionally, the Middle East conflict significantly disrupted shipping through the Strait of Hormuz, impacting trade routes linked to steel exports.
As the region accounts for a key destination for Chinese steel, logistical disruptions and shipping delays reduced export efficiency and affected raw material demand. Although alternative routes were identified, short-term trade frictions and elevated freight costs contributed to cautious procurement and kept prices under pressure.
Europe
The European iron ore market remained stable to weak, driven by import dependency and global supply conditions. War-related disruptions in maritime logistics increased freight costs and created uncertainty in raw material flows, affecting procurement strategies. Elevated energy prices further raised production costs for steel manufacturers, limiting aggressive purchasing of iron ore. At the same time, sufficient global supply and high inventories prevented any significant upward price movement. Demand from the construction and manufacturing sectors remained moderate, keeping prices within a narrow range.
North America
In North America, iron ore prices followed a balanced trend, supported by stable steel production but constrained by global supply availability. The geopolitical conflict influenced market sentiment through higher energy costs and disruptions in global shipping networks, indirectly impacting raw material pricing. Additionally, increased global shipments from major exporters such as Australia and Brazil ensured adequate supply, preventing price spikes. Steel mill profitability and output trends played a key role in maintaining stable demand, while logistical uncertainties limited stronger price movements.
Iron Ores are rich with iron oxides, which make them suitable for the iron extraction. The physical appearance of these ores is not rigid because of their colour. It might vary from dark grey, bright yellow, deep purple to rusty red. The iron extracted from ores is generally found in the form of magnetite, hematite, goethite, limonite, or siderite.
Steel, Structural engineering applications, In maritime purposes, Automobiles, General industrial applications
Samarco Mineracao S.A., Rio Tinto plc, Vale S.A., Anglo American plc, Fortescue Metals Group Ltd.
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Iron Ores are extracted through the process of mining. They are further processed in a magnetic separation for refining and finally obtain iron. However, Iron-Ore mining processes can vary depending on the type of ore being mined.
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