Iron ore prices monthly 2018-2019

Iron ore prices from June 2018 to June 2019 (in U.S. dollars per dry metric ton unit)*

by M. Garside, last edited Jul 25, 2019
Iron ore prices monthly 2018-2019 In June 2019, iron ore was valued at approximately 108.94 U.S. dollars per dry metric ton unit (dmtu), as compared to around 65.75 U.S. dollars per dmtu in April 2018.
Iron ore price and production

Iron ore refers to the minerals and rocks from which metallic iron is economically viable to extract. Pig iron, which is one of the raw materials used in steel production, is derived from iron ore. The price of iron ore has fluctuated a great deal in the last thirteen years. In 2003, one dmtu of iron ore cost 30 U.S. dollars, and increased to a high of 168 U.S. dollars per dmtu in 2011. The price has seen dramatic drops in the past three and a half years, from 139.87 U.S. dollars per dry metric ton unit in March 2013 to a recent low of 40.50 U.S. dollars per dmtu in December 2015. Since then, the price has increased gradually to 108.94 U.S. dollars per dmtu as of June 2019.

Overall, the global production of iron ore has not decreased since the prices have dropped. In fact, an increase in production among the world's largest iron ore producing countries was observed in the past five years. Australia produced 900 million metric tons of iron ore in 2018, an increase of 126 million metric tons over the country's 2014 production. China is also one of the world's largest iron ore producers, though its production is calculated differently than in other countries. Based primarily on the production of raw ore rather than usable ore, China produced an estimated 340 million metric tons in 2018, a notable decrease from 1.45 billion metric tons produced in 2013.
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Iron ore prices from June 2018 to June 2019 (in U.S. dollars per dry metric ton unit)*

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