Monthly average, September 2026
Spot price of iron ore fines with 62% iron content, delivered to China.
| Unit | Price (USD) |
|---|---|
| dry metric ton | 97.70 |
| Year | Average | High | Low | Change | In today's dollars |
|---|---|---|---|---|---|
| 2026 | 101.83 | 108.60 | 96.30 | +1.6% | 103.27 |
| 2025 | 100.18 | 105.10 | 92.30 | −8.4% | 104.85 |
| 2024 | 109.41 | 135.80 | 92.80 | −9.3% | — |
| 2023 | 120.59 | 137.10 | 105.20 | −0.6% | — |
| 2022 | 121.30 | 152.10 | 92.60 | −25.0% | — |
| 2021 | 161.70 | 214.40 | 96.20 | +48.4% | — |
| 2020 | 108.93 | 155.40 | 84.70 | +16.1% | — |
| 2019 | 93.86 | 120.20 | 76.20 | +34.5% | — |
| 2018 | 69.77 | 77.50 | 64.60 | −2.8% | — |
| 2017 | 71.76 | 89.40 | 57.50 | +22.8% | — |
| 2016 | 58.43 | 80.00 | 41.90 | +4.6% | — |
| 2015 | 55.87 | 68.20 | 40.50 | −42.4% | — |
| 2014 | 96.96 | 128.10 | 68.40 | −28.4% | — |
| 2013 | 135.37 | 154.60 | 114.80 | +5.3% | — |
| 2012 | 128.51 | 147.60 | 99.50 | −23.4% | — |
| 2011 | 167.76 | 187.20 | 135.50 | +15.0% | — |
| 2010 | 145.87 | 172.50 | 125.70 | +82.3% | — |
| 2009 | 80.00 | 105.10 | 59.80 | −48.7% | — |
| 2008 | 156.00 | 197.10 | 65.00 | +26.8% | — |
| 2007 | 123.00 | 195.10 | 78.20 | +77.4% | — |
| 2006 | 69.33 | 73.50 | 65.20 | +6.7% | — |
| 2005 | 65.00 | 65.00 | 65.00 | +71.5% | — |
| 2004 | 37.90 | 37.90 | 37.90 | +18.4% | — |
| 2003 | 32.00 | 32.00 | 32.00 | +9.2% | — |
| 2002 | 29.30 | 29.30 | 29.30 | −2.3% | — |
| 2001 | 30.00 | 30.00 | 30.00 | +4.2% | — |
| 2000 | 28.80 | 28.80 | 28.80 | +4.3% | — |
| 1999 | 27.60 | 27.60 | 27.60 | −11.0% | — |
| 1998 | 31.00 | 31.00 | 31.00 | +2.6% | — |
| 1997 | 30.20 | 30.20 | 30.20 | +0.7% | — |
| 1996 | 30.00 | 30.00 | 30.00 | +5.6% | — |
| 1995 | 28.40 | 28.40 | 28.40 | +7.2% | — |
| 1994 | 26.50 | 26.50 | 26.50 | −8.9% | — |
| 1993 | 29.10 | 29.10 | 29.10 | −12.1% | — |
| 1992 | 33.10 | 33.10 | 33.10 | −4.9% | — |
| 1991 | 34.80 | 34.80 | 34.80 | +7.1% | — |
| 1990 | 32.50 | 32.50 | 32.50 | +16.9% | — |
| 1989 | 27.80 | 27.80 | 27.80 | +14.4% | — |
| 1988 | 24.30 | 24.30 | 24.30 | −4.0% | — |
| 1987 | 25.30 | 25.30 | 25.30 | −3.8% | — |
| 1986 | 26.30 | 26.30 | 26.30 | −1.1% | — |
| 1985 | 26.60 | 26.60 | 26.60 | +1.5% | — |
| 1984 | 26.20 | 26.20 | 26.20 | −9.7% | — |
| 1983 | 29.00 | 29.00 | 29.00 | −10.8% | — |
| 1982 | 32.50 | 32.50 | 32.50 | +15.7% | — |
| 1981 | 28.10 | 28.10 | 28.10 | 0.0% | — |
| 1980 | 28.10 | 28.10 | 28.10 | +19.6% | — |
| 1979 | 23.50 | 23.50 | 23.50 | +9.3% | — |
| 1978 | 21.50 | 21.50 | 21.50 | −6.9% | — |
| 1977 | 23.10 | 23.10 | 23.10 | +1.8% | — |
| 1976 | 22.70 | 22.70 | 22.70 | +31.2% | — |
| 1975 | 17.30 | 17.30 | 17.30 | +29.1% | — |
| 1974 | 13.40 | 13.40 | 13.40 | +30.1% | — |
| 1973 | 10.30 | 10.30 | 10.30 | 0.0% | — |
| 1972 | 10.30 | 10.30 | 10.30 | 0.0% | — |
| 1971 | 10.30 | 10.30 | 10.30 | +5.1% | — |
| 1970 | 9.80 | 9.80 | 9.80 | 0.0% | — |
| 1969 | 9.80 | 9.80 | 9.80 | +11.4% | — |
| 1968 | 8.80 | 8.80 | 8.80 | −1.1% | — |
| 1967 | 8.90 | 8.90 | 8.90 | −6.3% | — |
| 1966 | 9.50 | 9.50 | 9.50 | −10.6% | — |
| 1965 | 10.63 | 15.30 | 10.20 | +4.2% | — |
| 1964 | 10.20 | 10.20 | 10.20 | −7.3% | — |
| 1963 | 11.00 | 11.00 | 11.00 | 0.0% | — |
| 1962 | 11.00 | 11.00 | 11.00 | 0.0% | — |
| 1961 | 11.00 | 11.00 | 11.00 | −3.5% | — |
| 1960 | 11.40 | 11.40 | 11.40 | — | — |
Yearly averages of monthly prices. Today's dollars adjust for US consumer price inflation (CPI-U).
| Month | Price | Change |
|---|---|---|
| Sep 2026 | 97.70 | +1.5% |
| Aug 2026 | 96.30 | −1.9% |
| Jul 2026 | 98.20 | −2.6% |
| Jun 2026 | 100.80 | −7.2% |
| May 2026 | 108.60 | +2.4% |
| Apr 2026 | 106.10 | +1.5% |
| Mar 2026 | 104.50 | +5.8% |
| Feb 2026 | 98.80 | −6.4% |
| Jan 2026 | 105.50 | +0.9% |
| Dec 2025 | 104.60 | +2.0% |
| Nov 2025 | 102.50 | −1.0% |
| Oct 2025 | 103.50 | +0.2% |
| Sep 2025 | 103.30 | +3.6% |
| Aug 2025 | 99.70 | +2.5% |
| Jul 2025 | 97.30 | +5.4% |
| Jun 2025 | 92.30 | −4.8% |
| May 2025 | 97.00 | −0.2% |
| Apr 2025 | 97.20 | −2.9% |
| Mar 2025 | 100.10 | −4.8% |
| Feb 2025 | 105.10 | +5.5% |
| Jan 2025 | 99.60 | −2.5% |
| Dec 2024 | 102.20 | +1.7% |
| Nov 2024 | 100.50 | −0.9% |
| Oct 2024 | 101.40 | +9.3% |
Metric tons
| Country | 2024 | 2025 (est.) | Share | Reserves |
|---|---|---|---|---|
| Australia | 607,000,000 | 600,000,000 | 37.5% | 27,000,000,000 |
| Brazil | 268,000,000 | 260,000,000 | 16.3% | 15,000,000,000 |
| India | 175,000,000 | 190,000,000 | 11.9% | 3,400,000,000 |
| China | 183,000,000 | 180,000,000 | 11.3% | 3,000,000,000 |
| Iran | 59,000,000 | 61,000,000 | 3.8% | 1,500,000,000 |
| Russia | 53,000,000 | 50,000,000 | 3.1% | 14,000,000,000 |
| South Africa | 41,000,000 | 42,000,000 | 2.6% | 680,000,000 |
| Canada | 42,000,000 | 41,000,000 | 2.6% | 2,300,000,000 |
| Ukraine | 34,000,000 | 32,000,000 | 2% | 2,300,000,000 |
| United States | 28,600,000 | 24,000,000 | 1.5% | 2,700,000,000 |
| Sweden | 18,000,000 | 18,000,000 | 1.1% | 600,000,000 |
| Peru | 13,300,000 | 14,000,000 | 0.9% | 1,000,000,000 |
| Chile | 11,000,000 | 12,000,000 | 0.8% | 740,000,000 |
| Kazakhstan | 11,100,000 | 11,000,000 | 0.7% | 1,500,000,000 |
| Türkiye | 11,000,000 | 11,000,000 | 0.7% | 99,000,000 |
| Mauritania | 8,940,000 | 9,300,000 | 0.6% | 4,400,000,000 |
| Mexico | 4,900,000 | 4,800,000 | 0.3% | 520,000,000 |
| Other countries | 34,700,000 | 36,000,000 | 2.3% | 6,000,000,000 |
| World | 1,600,000,000 | 1,600,000,000 | 100% | 87,000,000,000 |
Source: U.S. Geological Survey, Mineral Commodity Summaries 2026; 2025 figures are estimates. USGS
The Iron ore price averaged 97.70 USD / dry metric ton in September 2026, −5.4% against a year earlier. These are monthly benchmark prices; physical trades add freight, quality premiums and taxes.
The highest monthly price since 1960 was 214.40 USD / dry metric ton in June 2021; the lowest was 8.80 USD / dry metric ton in January 1968.
In today's dollars, the 2025 average of 100.18 USD / dry metric ton is worth about 104.85 USD / dry metric ton. The highest yearly average in today's dollars was 104.85 USD / dry metric ton in 2025.
Source: World Bank Commodity Price Data (The Pink Sheet), licensed under CC BY 4.0; inflation adjustment with US CPI-U from the Bureau of Labor Statistics.