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Australia
Brazil
China
IndiaQ1 2025
In Q1 2025, Australia’s Iron Ore price saw a modest increase from 90 to 91/DMT, reflecting a 1.1% quarter-on-quarter rise. This slight uptick was primarily attributed to a combination of steady demand from key Asian markets and mild supply constraints caused by weather-related disruptions in certain mining regions. The market in Australia responded positively to this upward movement, with participants expressing cautious optimism that the worst of the previous year’s volatility was behind them. In Brazil, prices remained unchanged, leading to a stable and neutral market sentiment as both producers and buyers awaited clearer signals of demand recovery.
China experienced a marginal price increase, which was met with mild optimism, as it suggested a gradual improvement in industrial activity and steel production. Meanwhile, India recorded a notable price rise, which boosted market confidence and reinforced expectations of strong domestic demand, especially from the construction and infrastructure sectors. Overall, while the price changes were modest, the general sentiment across all regions leaned towards cautious optimism and hope for a more stable year ahead.
Q4 2024
In Q4 2024, the Iron Ore market began to show signs of stabilization, with Australia, Brazil, and China all recording modest quarter-on-quarter price increases. This shift contributed to a cautiously optimistic sentiment among producers and traders, who viewed the price uptick as a potential turning point after several challenging quarters. The improvement was driven by seasonal restocking activities and early indications of a recovery in steel demand, particularly in China.
Australian and Brazilian exporters welcomed the more favorable conditions, which allowed for improved planning and a gradual resumption of previously delayed projects. In China, the market mood was buoyed by government stimulus measures aimed at supporting infrastructure and industrial activity. India, meanwhile, experienced a robust rebound in prices, returning to levels seen earlier in the year. This resurgence was underpinned by renewed domestic demand and a positive outlook for the construction sector, which lifted overall market confidence. Across all regions, there was a sense of cautious optimism, with stakeholders’ hopeful that the worst of the downturn was over and that a more stable period lay ahead.
Q3 2024
Q3 2024 marked a period of intensified pressure for the Iron Ore markets in Australia, Brazil, and China, as all three regions saw a pronounced quarter-on-quarter decline in prices. This sharp drop led to a more pessimistic sentiment among market participants, with concerns mounting over excess supply and persistently weak demand from the steel industry. In Australia and Brazil, producers responded by scaling back production and postponing expansion plans, while traders became increasingly risk averse. The mood in China also turned cautious, as the anticipated recovery in construction and manufacturing failed to materialize, dampening hopes for a near-term rebound.
The overall market environment was characterized by heightened uncertainty and a focus on inventory management rather than growth. On the other hand, India experienced a significant decline in prices during Q3, which softened the previously bullish sentiment. The drop was largely attributed to seasonal factors and a temporary slowdown in domestic steel demand. Despite this setback, Indian market participants remained hopeful that supportive government policies would help revive demand in the coming quarters.
Q2 2024
In Q2 2024, the Iron Ore market across Australia, Brazil, and China continued to face a subdued environment, as all three regions recorded a further quarter-on-quarter decline in prices. This persistent downward trend weighed on market sentiment, prompting producers and traders to adopt a more cautious stance.
The ongoing price softness was largely attributed to tepid demand from the steel sector, especially in China, where construction and manufacturing activity remained below expectations. As a result, Australian and Brazilian exporters focused on operational efficiency and cost controls, while also exploring new markets to offset weaker Chinese demand. Despite these challenges, there was a sense of resilience, with stakeholders hoping for stabilization in the second half of the year.
In contrast, India experienced a notable improvement in market mood, as prices rose compared to the previous quarter. This upward momentum was driven by sustained domestic demand and government-led infrastructure projects, which provided a buffer against global headwinds. The divergence in regional performance highlighted the importance of local factors in shaping overall market sentiment during Q2 2024.
Q1 2024
In the first quarter of 2024, the Iron Ore market across these major regions was marked by a mix of cautious optimism and regional divergence in sentiment. Australia, Brazil, and China all experienced a quarter-on-quarter decline in prices compared to Q4 2023, which led to a more subdued market mood among producers and traders.
The softer pricing environment in these countries was primarily attributed to easing demand from major importers, particularly China, where steel production growth showed signs of moderation. As a result, market participants in Australia and Brazil adopted a more conservative approach, focusing on cost management and operational efficiency to navigate the challenging landscape. In contrast, India stood out with a notable increase in iron ore prices during Q1 2024, bucking the trend seen in the other regions.
This upward movement was driven by robust domestic demand, especially from the steel sector, and supported by government infrastructure initiatives. The positive price momentum in India fostered a more optimistic sentiment among miners and traders, encouraging higher production and investment in the sector. Overall, while the global iron ore market in Q1 2024 faced headwinds due to weaker international demand, India’s strong performance provided a bright spot, highlighting the importance of regional dynamics in shaping market sentiment.
Q1 2025
In Q1 2025, Indian iron ore prices dipped to USD 60.96/DMT a 5.6% decrease from Q4 2024. This moderation was likely due to a combination of factors, including increased supply as mining operations normalized and a slight slowdown in steel demand after the year-end rush. Some market participants also adopted a wait-and-see approach, anticipating potential changes in government policy or global market conditions. The overall sentiment was cautiously optimistic, with the market remaining fundamentally strong but more balanced compared to the previous quarter’s exuberance.
Q4 2024
In Q4 2024, prices rebounded sharply to 5,360, representing an USD 64.58/DMT quarter-on-quarter increase. The recovery was driven by the resumption of mining activities after the monsoon and renewed demand from the steel sector, which ramped up production to meet both domestic and export orders. Government infrastructure spending and favorable policy measures also played a role in boosting market confidence. The sentiment among market participants became optimistic once again, with expectations of stable demand through the end of the year.
Q3 2024
Q3 2024 saw a significant reversal, with prices dropping to USD 57.76/DMT a 10.6% decrease from the previous quarter. This decline was largely attributed to seasonal factors, as the monsoon season typically disrupts mining operations, leading to reduced activity and softer demand from steel mills. Additionally, some stockpiling from earlier quarters may have eased immediate supply pressures, contributing to the price correction. Market sentiment turned cautious, with participants focusing on inventory management and awaiting clearer signals of demand recovery post-monsoon.
Q2 2024
The upward trend continued in Q2 2024, as prices climbed further to USD 64.58/DMT marking a 4.5% quarter-on-quarter increase. This steady growth was supported by ongoing infrastructure development and healthy steel production, which maintained strong demand for iron ore. Furthermore, limited imports and a focus on domestic sourcing kept the supply-demand balance tight. The Indian market remained confident, with stakeholders expecting continued momentum, although there was growing awareness of potential headwinds such as global market volatility and monsoon-related mining slowdowns.
Q1 2024
In Q1 2024, Indian iron ore prices rose sharply from USD 55.4/DMT in Q4 2023 to INR USD 61.77/MT reflecting an impressive quarter-on-quarter increase of about 11.2%. This surge was primarily driven by robust domestic demand, especially from the steel and infrastructure sectors, which continued to benefit from government-led construction projects and economic recovery initiatives. Additionally, supply constraints due to mining disruptions and logistical challenges in some regions contributed to the price hike. The overall market sentiment during this quarter was bullish, with miners and traders optimistic about sustained demand and favorable policy support.
PriceWatch is your trusted resource for tracking global iron ore price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the iron ore market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, PriceWatch keeps you fully informed of market dynamics.
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These events underscore the Iron ore market’s vulnerability to global disruptions and highlight the need for continuous monitoring of supply-demand dynamics.
This research methodology ensures that PriceWatch delivers the most accurate, timely, and actionable Iron Ore pricing assessments, helping our clients stay ahead of market trends and make informed business decisions.
Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Iron ore is a naturally occurring rock or mineral from which metallic iron can be economically extracted. It is primarily composed of iron oxides, most commonly hematite (Fe₂O₃) and magnetite (Fe₃O₄), and varies in color from dark grey and deep purple to rusty red and bright yellow. Iron ore is the essential raw material for steel production, with about 98% of mined iron ore used to make steel for construction, transportation, infrastructure, and manufacturing. The iron content of ore typically ranges from 48% to 72%, depending on the mineral type, with hematite and magnetite being the richest sources.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Property | Specification |
| Fe Content | 62% (±1%) |
| SiO₂ (Silica) | ≤ 6.0% |
| Al₂O₃ (Alumina) | ≤ 2.5% |
| P (Phosphorus) | ≤ 0.08% |
| S (Sulphur) | ≤ 0.02% |
| Moisture (at Delivery) | ≤ 8.0% |
| LOI (Loss on Ignition) | ≤ 4.5% |
| Size (Lump) | 10–40 mm (90% min) |
| Size (Fines) | Below 10 mm (90% min) |
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