Hot-rolled coil prices have remained resilient in 2026, underpinned by iron ore and coke cost movements. Weak domestic demand for autos and white goods has capped upside, while strong export volumes have provided partial offset, keeping iron ore-linked steel prices firm but range-bound.
Chinese iron ore futures finished lower and Qingdao spot prices eased slightly as trader activity stayed thin and steel mills remained wait-and-see. Weekly supply was broadly stable, with global shipments flat and port arrivals edging down, while the Port Hedland strike has not yet materially affected availability. Near-term prices are expected to consolidate on a subdued note.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Iron | China | FOB | USD 3,475.14/MT | June 2026 |
| Iron | India | CIF | USD 3,562.69/MT | June 2026 |
| Iron | USA | CIF | USD 3,630.09/MT | June 2026 |
| Iron | Germany | CIF | USD 3,596.63/MT | June 2026 |
| Iron | Australia | CIF | USD 3,541.22/MT | June 2026 |
| Iron | China | FOB | USD 3,475.14/MT | May 2026 |
| Iron | India | CIF | USD 3,542.48/MT | May 2026 |
| Iron | USA | CIF | USD 3,594.33/MT | May 2026 |
| Iron | Germany | CIF | USD 3,568.59/MT | May 2026 |
| Iron | Australia | CIF | USD 3,525.97/MT | May 2026 |
Stay updated with the latest iron prices, historical data, and tailored regional analysis
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.
Analyst Insight
According to Procurement Resource, iron ore prices are expected to remain range-bound as strong mining supply offsets uncertain steel demand, with China’s construction recovery and steel output remaining key factors.
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Asia
In Asia, iron prices remained generally steady but showed mild upward pressure during Q4’25. China continued to import large volumes of iron ore, supporting port inventories despite slower steel production. Strong demand from industrial projects and the green energy sector, including wind and EV-related steel, helped balance the market. Some temporary disruptions in supply, such as pricing disputes with major Australian exporters, added short-term volatility. Overall, buyers in Asia remained cautious, managing stock levels carefully while taking advantage of competitive offers from Brazil and other suppliers.
Europe
In Europe, iron prices rose moderately as consumption started to recover. Italian mills and distributors rebuilt inventories, turning to Ukrainian and Brazilian pig iron to secure supply after sanctions limited access to Russian material. High energy costs continued to weigh on foundries, making buyers selective. Despite these challenges, improving buying interest in the steel sector contributed to a slight upward trend, as producers tried to ensure materials were available before year-end. Overall, the market saw a cautious optimism, supported by recovering demand but constrained by structural challenges in the industry.
North America
In North America, iron prices were relatively stable but showed limited upward movements. Domestic production remained steady, and supply was sufficient to meet moderate demand. End-users, particularly in construction and manufacturing, remained careful in their purchasing decisions, given the global oversupply and rising inventories. While market activity increased slightly toward the end of the quarter, price gains were modest, with most buyers waiting for clearer signals from both local and international markets before purchasing larger volumes.
Analyst Insight
According to Procurement Resource, Iron prices may remain stable with occasional upward fluctuations as global supply and demand gradually rebalance, but strong inventory levels are likely to limit sharp increases.
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)
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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.
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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.
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