⚙️ Ferrous Metals

Iron Ore Price Today

Iron ore concentrate used as raw material for steel production.

Last updated: May 10, 2026

114.69
USD/MT
+1.10%
24h change
+1.68%
7-day change
+5.07%
30-day change
30-Day Price Trend
About Iron Ore

Iron ore is the primary raw material for steelmaking via the blast furnace route. The benchmark grade is 62% Fe (iron content) CFR China, and prices are heavily influenced by Chinese steel production.

Common Grades & Types
62% Fe Fines (Benchmark)
The primary iron ore benchmark grade, traded on futures exchanges.
65% Fe Lump/Fines
Premium high-grade ore, lower sintering costs for mills.
58% Fe Fines
Lower-grade ore, trades at a significant discount.
Pellets
Agglomerated iron ore with high Fe content, used in direct reduction.
Key Applications
  • Blast furnace pig iron production
  • Direct reduced iron (DRI) and sponge iron
  • Sintering and pelletizing for steel mills
What Drives Iron Ore Prices
  • 1Chinese steel production rates
  • 2Blast furnace utilization rates
  • 3Port inventory in China
  • 4Supply from Australia and Brazil (Rio Tinto, Vale, BHP)
  • 5Seaborne freight costs
Frequently Asked Questions

Historical Prices
Last 30 days — USD/MT
DatePriceDaily Change
May 10, 2026114.69+1.10%
May 9, 2026113.44+1.18%
May 8, 2026112.12+0.80%
May 7, 2026111.23-0.80%
May 6, 2026112.13+0.39%
May 5, 2026111.69-0.29%
May 4, 2026112.02-0.69%
May 3, 2026112.80-1.28%
May 2, 2026114.26+0.95%
May 1, 2026113.19+1.64%
Apr 30, 2026111.36+1.34%
Apr 29, 2026109.89+0.56%
Apr 28, 2026109.28-0.06%
Apr 27, 2026109.35-1.26%
Apr 26, 2026110.75-0.09%
Apr 24, 2026110.85+1.53%
Apr 23, 2026109.18+1.71%
Apr 22, 2026107.34-1.21%
Apr 21, 2026108.66-1.62%
Apr 20, 2026110.45-0.58%
Apr 19, 2026111.09-0.60%
Apr 17, 2026111.76+1.08%
Apr 16, 2026110.57+1.01%
Apr 15, 2026109.46+0.21%
Apr 14, 2026109.23-0.26%
Apr 13, 2026109.52+0.33%
Apr 12, 2026109.16
Current Price
114.69
USD/MT
24h
+1.10%
7d
+1.68%
30d
+5.07%
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Prices are indicative and updated daily. Not for use as binding contract prices.