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Iron ore prices 2003-2018

Iron ore prices from 2003 to 2018 (in U.S. dollars per dry metric ton unit)

by M. Garside, last edited Jan 24, 2019
Iron ore prices 2003-2018 This statistic shows the average commodity price for iron ore from 2003 to 2018. In 2018, iron ore was worth an average of approximately 70 U.S. dollars per dry metric ton unit (dmtu), compared to 30 dollars per dmtu in 2003.
Iron Ore

Iron ore is comprised of minerals and rocks from which metallic iron can be extracted. Iron ore is an important part of the world economy, as a large proportion of iron ore is used to make steel, which is a widely used material globally. In a given year, the monthly price of iron ore varies noticeably, ranging for example from a high of 77.46 U.S. dollars per dmtu in February 2018 down to a low of 64.56 U.S. dollars per dmtu in July 2018.

Australia has the world's largest iron ore reserves, at 50 billion metric tons of crude iron ore as of 2017. In that year, Australia was also the world's largest producer of iron ore. Not surprisingly, China, the world's leading steel manufacturer, is also the world's leading importer of iron. In recent years, China's iron imports have increased significantly, from 207.98 million metric tons in 2004, to over one billion metric tons in 2017.
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Iron ore prices from 2003 to 2018 (in U.S. dollars per dry metric ton unit)

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