Iron ore futures and spot prices slipped slightly as coke price cuts failed to boost buying interest. Market sentiment remains pessimistic due to ongoing blast furnace maintenance and soft end-use demand, keeping prices rangebound at low levels.
A modest recovery in spot prices combined with lower freight rates narrowed imported iron ore margins. Blast furnace operating rates edged down slightly and daily hot metal output fell, while expected supply arrivals this week are set to keep inventories elevated, suggesting near-term price softness.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Iron | China | FOB | USD 3,340.42/MT | August 2026 |
| Iron | India | CIF | USD 3,431.20/MT | August 2026 |
| Iron | USA | CIF | USD 3,453.30/MT | August 2026 |
| Iron | Germany | CIF | USD 3,454.01/MT | August 2026 |
| Iron | Australia | CIF | USD 3,435.09/MT | August 2026 |
| Iron | China | FOB | USD 3,443.73/MT | July 2026 |
| Iron | India | CIF | USD 3,550.53/MT | July 2026 |
| Iron | USA | CIF | USD 3,631.22/MT | July 2026 |
| Iron | Germany | CIF | USD 3,577.36/MT | July 2026 |
| Iron | Australia | CIF | USD 3,542.19/MT | July 2026 |
Stay updated with the latest Iron prices, historical data, and tailored regional analysis
Asia
In China, the average prices of Iron were ~USD 3,443.73/MT (FOB) in July and ~USD 3,340.42/MT in August, showing a ~3% decrease. India followed a similar path, with average import prices falling from ~USD 3,550.53/MT (CIF) in July to ~USD 3,431.20/MT in August. In China, crude steel output kept falling as mills faced rising steel stocks and thin margins, which reduced demand for iron. Iron ore imports stayed high, partly because typhoons delayed customs clearance, and port inventories built up, keeping raw material costs low. Policy expectations lifted the market briefly in late August, and mills restocked ahead of the National Day holiday. However, industry calls for output restraint pushed prices lower again by late September. Indian import prices followed the weaker Chinese offers.
Europe
In Germany, iron averaged approximately USD 3,577.36/MT (CIF) in July and eased to about USD 3,454.01/MT in August, a decline of ~3.4%. Lower global iron ore costs and strong supply from Brazil and Australia reduced input costs for European producers. Firm pellet premiums limited the decline for blast furnace and direct-reduction users, and higher freight costs linked to bunker fuel added some support to delivered prices.
North America
In the USA, average iron import prices dropped from nearly USD 3,631.22/MT (CIF) in July to roughly USD 3,453.30/MT in August, a fall of ~4.9%, the steepest among the regions. US iron ore supply is largely captive within integrated steelmakers, so import offers followed weaker global prices. Domestic steel prices and volumes improved, but abundant overseas supply and lower raw material costs pushed foreign sellers to cut offers to stay competitive.
Analyst Insight
According to Procurement Resource, iron prices are likely to remain under pressure as steel output stays weak and raw material supply stays ample, though restocking and policy support may limit further declines.
Related Report
Need Latest Iron Prices?
Get real-time price assessments, periodic trends, forecasts and price driver insights across key global markets.
Our Clients
Turn price intelligence into action with the Procurement Resource Database. Log in or subscribe to unlock live price trends, historical charts, supplier databases, cost curves, and analyst-backed insights across chemicals, agriculture, energy, packaging, and more. Use these tools to benchmark your contracts, plan budgets with confidence, and stay ahead of market moves on every product you buy.
0
+Products
0
+Regions
0
+Subscriptions
Asia
Iron prices in China remained at ~RMB 23/kg during the first two months of Q2’26, showing a slight decrease during the quarter. The market was supported early in Q2 by restocking activity and improved steel mill margins but weakened later as steel demand concerns increased. China’s property sector remained under pressure, reducing construction steel demand and limiting growth in iron ore purchases. However, iron ore imports remained strong as mills continued relying on imported material due to lower domestic ore quality. Global iron ore flows reached around 145 million tonnes in May 2026, with shipments to China increasing year over year. Stable supply from Australia and Brazil kept the market well supplied, preventing significant price increases.
Europe
Iron prices in Germany increased to ~EUR 3.01/kg in April and ~EUR 3.06/kg in May. European iron ore demand remained limited by weak industrial activity, high energy costs and lower blast furnace utilisation. Steel producers faced pressure from energy expenses, carbon costs and competition from imported steel, restricting raw material purchasing growth. Although steel demand was expected to recover gradually, consumption remained below historical levels. Automotive and infrastructure-related steel demand provided some support, but weak construction and industrial activity limited stronger iron ore consumption.
North America
Iron prices in the United States increased to ~USD 3,496.09/MT in April and ~USD 3,594.33/MT in the following month, showing a ~2.8% increase. The market remained less exposed to seaborne iron ore movements due to strong domestic pellet supply for integrated steel producers. Steel production, automotive demand and infrastructure projects supported consumption, while uneven construction activity limited stronger growth. The continued shift toward electric arc furnace steel production reduced long-term dependence on traditional blast furnace iron ore demand. Domestic supply availability and changing steel production methods kept the market relatively balanced.
Iron is a well-known chemical element. It is a metal which belongs to the first transition series and group 8 of the periodic table. It is, by mass, the most typical element on the earth, forming much of its outer and inner core. Iron shares several properties of other transition metals, including the other group 8 elements, ruthenium and osmium. Further, it is also a significant part of plant and animal life and works as an oxygen carrier in haemoglobin.
Fe
Steel and other alloys, Metals, Tools, Automobile, Bars, Rods, Others
Tata Steel BSL Ltd, Bharat Engineering Works, Essar Steel, Jindal Steel & Power Ltd, JSW Steel, Lloyds Metals and Energy Limited
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.
In this process, the blast furnace is loaded with iron ores, generally hematite or magnetite together with coke. Air pre-heated to 900 °C is blown through this mixture to turn the carbon into carbon monoxide. This reaction raises the final temperature to approximately 2000 °C and the carbon monoxide reduces the iron ore that finally results in the formation of metallic iron.
Our Price Analysis Methodology
Business Insights Analyst
Helping procurement and sourcing teams navigate complex markets through data-driven research, category intelligence, and actionable insights - with a focus on identifying market trends, analyzing supply-side developments, and delivering clear intelligence that supports informed business decisions.
Experience how Procurement Resource transforms raw material price data into clear, decision ready intelligence. Optimise your performance with reliable, expert market data and analysis. Schedule your demo today to experience a live walk-through where our experts will showcase interactive price charts, forecasted prices, and insights driving the prices for your key commodities, tailored to your workflows. Contact us now!
Our Team will be happy to assist you
We are just a text away
Still Need Help?
This report presents the economics of sulphuric acid production from iron pyrite. In this industrial process, gas produced from the heating of iron pyrite (iron sulfide) is first treated to purify and isolate sulfur dioxide (SO2). This gas typically contains impurities that are removed to increase the efficiency of the subsequent steps. Once purified, the sulfur dioxide is then converted into sulfur trioxide (SO3) through a catalytic oxidation process. This conversion is typically facilitated by a catalyst such as vanadium pentoxide (V2O5) at high temperatures. The sulfur trioxide produced is a key intermediate used in the manufacture of sulfuric acid.
Unlock full access to Procurement Resource's price databases, interactive charts, and short-term forecasts for thousands of commodities. Elevate your sourcing decisions by comparing prices across regions, downloading historical data, and layering in analyst-backed insights, all with our flexible plans that scale as your portfolio grows.
Still have any Questions
Contact Us
Price Trend Dashboard - What's Included
Price trends across a diverse portfolio of categories and products, spanning board to niche chemicals
Coverage extendable to grade-specific chemicals based on procurement requirements
Regular price tracking supported by robust historical datasets
News, policy updates, and key market drivers impacting price movements
Short-term and long-term price outlooks and forecasts
Supply–demand dynamics and capacity-driven market analysis
Track prices, market movements, supply-demand dynamics, and industry developments across hundreds of commodities through a centralized intelligence platform built for informed procurement decisions.
Understand market fluctuations using analyst-backed forecasts, historical pricing patterns, and evolving industry trends to strengthen sourcing strategies and budget planning.
Leverage cost models, pricing benchmarks, and procurement insights to evaluate purchasing opportunities, improve negotiations, and enhance operational efficiency.
Access region-specific price trends, trade activities, capacity changes, and supply chain developments influencing commodity markets worldwide.
.webp&w=1080&q=75)
