| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Iron Ore | China | FOB | USD 114.07/MT | April 2026 |
| Iron Ore | China | FOB | USD 115.62/MT | March 2026 |
| Iron Ore | China | FOB | USD 114.91/MT | February 2026 |
| Iron Ore | India | FOB | USD 55.00/MT | February 2026 |
| Iron Ore | USA | FOB | USD 110.00/MT | February 2026 |
| Iron Ore | Russia | FOB | USD 98.00/MT | February 2026 |
| Iron Ore | Australia | FOB | USD 110.00/MT | February 2026 |
Stay updated with the latest Iron Ore prices, historical data, and tailored regional analysis
Asia
In China, iron ore prices softened slightly, with prices at 0.85 CNY/kg (Spot FD) in January and 0.82 CNY/kg in March, while quarterly prices were higher by approximately 1.59% compared to the previous quarter. The market was influenced by weak steel demand, stable pig iron production, and continued accumulation of port inventories, which limited upward momentum. Additionally, the Middle East conflict significantly disrupted shipping through the Strait of Hormuz, impacting trade routes linked to steel exports.
As the region accounts for a key destination for Chinese steel, logistical disruptions and shipping delays reduced export efficiency and affected raw material demand. Although alternative routes were identified, short-term trade frictions and elevated freight costs contributed to cautious procurement and kept prices under pressure.
Europe
The European iron ore market remained stable to weak, driven by import dependency and global supply conditions. War-related disruptions in maritime logistics increased freight costs and created uncertainty in raw material flows, affecting procurement strategies. Elevated energy prices further raised production costs for steel manufacturers, limiting aggressive purchasing of iron ore. At the same time, sufficient global supply and high inventories prevented any significant upward price movement. Demand from the construction and manufacturing sectors remained moderate, keeping prices within a narrow range.
North America
In North America, iron ore prices followed a balanced trend, supported by stable steel production but constrained by global supply availability. The geopolitical conflict influenced market sentiment through higher energy costs and disruptions in global shipping networks, indirectly impacting raw material pricing. Additionally, increased global shipments from major exporters such as Australia and Brazil ensured adequate supply, preventing price spikes. Steel mill profitability and output trends played a key role in maintaining stable demand, while logistical uncertainties limited stronger price movements.
Analyst Insight
According to Procurement Resource, iron ore prices are expected to remain range-bound with mild volatility, as logistical disruptions and cost pressures are offset by ample supply and moderate steel demand.
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Asia
In Asia, iron ore prices remained mostly steady with occasional upward pressure during the fourth quarter of 2025. China continued to import large amounts of iron ore to maintain port stocks, even though steel production was slower than usual. Strong demand from industrial projects, renewable energy, and electric vehicle-related steel helped support the market. Some temporary supply issues, including disagreements with major exporters and changes in mine outputs, caused short-term fluctuations. Buyers were cautious, balancing inventory management with opportunities from competitive suppliers in Brazil and other regions. The spot prices in the Chinese market settled at around 114 USD/MT in December’25. Overall, the Asian market showed stability despite minor ups and downs.
Europe
In Europe, iron ore prices rose moderately during the quarter as steel demand began to recover. Mills and distributors focused on rebuilding inventories, often sourcing from alternative suppliers due to limited access to some traditional sources. High energy costs continued to challenge operations, making buyers selective in their purchases. Despite these constraints, improving interest from the steel sector and careful restocking contributed to a slight upward trend. Market sentiment was cautiously optimistic, with buyers trying to secure material before year-end while managing cost pressures.
North America
In North America, iron ore prices stayed relatively stable, showing only limited upward movement. Domestic production met moderate demand, and end-users in construction and manufacturing remained careful with buying. Rising global inventories and oversupply kept price gains modest. Towards the end of the quarter, activity increased slightly, but most buyers waited for clearer market signals before committing to larger purchases.
Iron Ores are rich with iron oxides, which make them suitable for the iron extraction. The physical appearance of these ores is not rigid because of their colour. It might vary from dark grey, bright yellow, deep purple to rusty red. The iron extracted from ores is generally found in the form of magnetite, hematite, goethite, limonite, or siderite.
Steel, Structural engineering applications, In maritime purposes, Automobiles, General industrial applications
Samarco Mineracao S.A., Rio Tinto plc, Vale S.A., Anglo American plc, Fortescue Metals Group Ltd.
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Iron Ores are extracted through the process of mining. They are further processed in a magnetic separation for refining and finally obtain iron. However, Iron-Ore mining processes can vary depending on the type of ore being mined.
Rakesh Nandi
Team Lead - Market Research
Leading procurement-focused market intelligence across chemicals, composites, advanced materials, aerospace & defense, and energy, delivering commodity forecasts, supply chain analysis, and competitive benchmarking to support sourcing decisions.
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