Iron Ore Prices

Iron ore prices averaged USD 96.77 per metric ton in May, down 0.7% from April. On 30 May, the commodity traded at USD 94.00 per metric ton, down 1.6% from 30 April.

Prices edged down in May as demand conditions remained subdued. China’s property sector continued to struggle in May, with home sales falling and steel rebar prices—made with iron ore and used in construction—hitting an eight-year low. Nonetheless, a temporary decline in tariffs between the U.S and China cushioned the price fall.