Steel Products Prices North America

Iron Ore Spot Prices Continue to Collapse

Written by John Packard

As the domestic mills announce price increases in the hopes of changing market momentum, one of the negatives is the spot price of iron ore in China (the largest seaborne ore buyer). Iron ore prices have been collapsing for the past two years with 62% Fe fines reaching $37.5/dmt today (TSI data).

As you can see from the graphic below, this year began with 62% Fe fines trading on the spot market at $71.2/dmt – almost double the level we are seeing right now.

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