Iron Ore Prices

Iron ore prices averaged USD 100.15 per metric ton in March, down 4.3% from February. On 31 March, the commodity traded at USD 101.00 per metric ton, down 1.5% from 28 February.

Iron ore ran counter to most industrial metals in March, posting a significant price decline due partly to lower steel production in top consumer China and resumed talks of steel output curbs in the country depressing iron ore demand. Moreover, March’s sharp year-on-year decline in new home sales in China pointed to sustained malaise in the property sector, a key user of the metal.