Iron Ore Prices

Iron ore prices averaged USD 103.35 per metric ton in September, up 3.6% from August. On 30 September, the commodity traded at USD 100.80 per metric ton, down 0.7% from 29 August.

Iron ore average prices rose for the third consecutive month in September, hitting a seven-month high. Prices during the month followed a bell-shaped trajectory. Early in the month, prices rose as Chinese steel output improved—the metal is widely used in steel-making—and shipments from Brazil, the world’s second-largest exporter, receded. That said, in late September prices fell as traders turned more cautious ahead of the Chinese Golden Week holiday, which will see mainland markets close for a week in October.