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IRON ORE $62.85 (US/t) At the Close: 7 July 2017

$62.85 (US/t)At the Close: 7 July 2017

About the Price

Iron Ore (Fe) is mined in around 50 countries worldwide and used to make steel (buildings, cars, white goods etc.).

Global economic growth is the primary factor that drives its supply and demand. When economies are growing, the need for steel in construction increases which drives the price up.

Growth in China (the world’s largest consumer of metals) has affected the price of iron ore so much recently that the spot price can almost be considered a proxy for China’s economic health.

Excel IconDownload the 37yr price history.

Iron Ore (62% CFR China) Price Change
June 2017 $57.86 -6.11%
May 2017 $61.63 -12.46%
April 2017 $70.40 -19.26%
March 2017 $87.20 -1.81%
February 2017 $88.80 +9.88%
January 2017 $80.82 +1.75%
Monthly Average in $US/metric tonne

ASX Iron Ore Companies

Closed – 10/07 – delayed

Code Company Price Change Chg High Low Volume Mkt Cap 1 Year
AGO Atlas Iron Ltd $0.014 -0.001 -6.67% $0.015 $0.014 14,207,241 $129,698,427 +40.00%
BCI BC Iron Ltd $0.14 0.00 0.00 $0.145 $0.14 307,912 $54,953,767 +8.39%
BHP BHP Billiton LtdStar Stock $24.52 -0.07 -0.29% $24.57 $24.39 7,563,826 $78,750,665,895 +28.51%
CIA Champion Iron Ltd $1.08 0.00 0.00 0 $418,051,086 +390.91%
FMG Fortescue Metals Group $5.09 -0.10 -1.93% $5.23 $5.07 14,703,965 $15,849,232,589 +32.90%
GRR Grange Resources $0.13 0.00 0.00 $0.135 $0.125 642,486 $150,454,031 +18.18%
IRD Iron Road Ltd $0.24 -0.01 -4.00% $0.24 $0.24 53,631 $162,613,029 +71.43%
MGX Mount Gibson Iron $0.36 -0.005 -1.37% $0.375 $0.355 3,845,360 $394,762,506 +24.14%
RIO RIO Tinto LtdStar Stock $65.10 +0.06 +0.09% $65.22 $64.61 1,996,969 $27,614,926,021 +37.40%
SDL Sundance Resources $0.003 0.00 0.00 0 $21,306,071 0.00

Australia is the world’s largest iron ore exporter (and 2nd largest producer) accounting for around a third of global production [1].

Western Australia holds just over 90% of Australia’s identified iron ore resources and has a reputation for producing consistently high concentrations of around 60%. Rio Tinto (RIO), BHP Billiton (BHP) and Fortescue Metals Group (FMG) account for ~90% of Australia’s iron ore production (2014).

View an image of Australia’s 2016 iron ore deposits and operating mines.

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