Commodities
Download the 40yr price history.Why December is a bullish month for iron ore and BHP, Rio Tinto and Fortescue investors
Fri 01 Dec 23, 12:52pm (AEDT)
Iron Ore
Commodity
·
USD/t
130.77
Iron Ore isn't traded like most commodities. Please read the FAQs below.
Market Index tracks the industry standard NYMEX traded 62% Fe, CFR China in $US/metric tonne.
Iron Ore Chart
About the Price
Iron Ore (Fe) is mined in around 50 countries worldwide and used to make steel (buildings, cars, white goods etc.).
Global economic growth is the primary factor that drives its supply and demand. When economies are growing, the need for steel in construction increases which drives the price up.
Growth in China (the world's largest consumer of metals) has affected the price of iron ore so much recently that the spot price can almost be considered a proxy for China's economic health.
| Performance USD/t | Amount | Change |
|---|---|---|
| 1 Week | +0.37 | +0.28% |
| 1 Month | +4.62 | +3.66% |
| 3 Month | +13.37 | +11.39% |
| 6 Month | +22.18 | +20.43% |
| 1 Year | +23.33 | +21.71% |
At Market Close · 05/12
ASX Iron Ore Companies
Closed - 12/2023
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Australia is the world's largest iron ore exporter (and 2nd largest producer) accounting for around a third of global production.
Western Australia holds just over 90% of Australia's identified iron ore resources and has a reputation for producing consistently high concentrations of around 60%. Rio Tinto (RIO), BHP Billiton (BHP) and Fortescue Metals Group (FMG) account for ~90% of Australia's iron ore production (2014).
View an image of Australia's 2016 iron ore deposits and operating mines.
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FAQs
Historical Chart
The iron ore spot price became a mature benchmark in 2008 when Platts started publishing daily assessments. The Steel Index and Metal Bulletin followed suit shortly afterwards. The industry standard specification is 62% Fe (CFR China).
All Commodities
Aluminium Coal Cobalt Copper Crude Oil Gold Graphite Hydrogen Iron Ore Lead Lithium Mineral Sands Natural Gas Nickel Palladium Platinum Potash Rare Earth Silver Tin Uranium Vanadium ZincResources
(Spreadsheet)
Download a spreadsheet of 62% FE spot (CFR Tianjin port) since 1980.
(High-Definition Map)
A large 2MB image of Australia's iron ore deposits.
(High-Definition Maps)
A list of Australia's major minerals with statistics and maps outlining all known deposits and operating mines.
