⚙️ Ferrous Metals

Iron Ore Price Today

Iron ore concentrate used as raw material for steel production.

Last updated: August 1, 2026

117.13
USD/MT
+0.36%
24h change
+4.87%
7-day change
+9.08%
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
Aug 1, 2026117.13+0.36%
Jul 30, 2026116.71+0.92%
Jul 29, 2026115.65+0.34%
Jul 28, 2026115.26+0.05%
Jul 26, 2026115.20+1.36%
Jul 25, 2026113.65+1.48%
Jul 24, 2026111.99+0.27%
Jul 23, 2026111.69+0.60%
Jul 22, 2026111.02-0.90%
Jul 21, 2026112.03+0.73%
Jul 20, 2026111.22+1.27%
Jul 19, 2026109.83+0.27%
Jul 17, 2026109.53+0.72%
Jul 16, 2026108.75-1.17%
Jul 15, 2026110.04-0.77%
Jul 14, 2026110.89-1.59%
Jul 12, 2026112.68+0.52%
Jul 11, 2026112.10+1.64%
Jul 10, 2026110.29-0.35%
Jul 9, 2026110.68-0.11%
Jul 8, 2026110.80+0.91%
Jul 7, 2026109.80+1.55%
Jul 6, 2026108.12+1.67%
Jul 5, 2026106.34-1.19%
Jul 4, 2026107.62+0.22%
Jul 3, 2026107.38
Current Price
117.13
USD/MT
24h
+0.36%
7d
+4.87%
30d
+9.08%
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Prices are indicative and updated daily. Not for use as binding contract prices.