What is the highest annual iron ore (62% fe) value in this dataset?

$167.8 ($/dry metric ton) in 2011 annual value. This is the highest annual observation within 1960–2025, rather than a daily market record.

How are inflation-adjusted prices calculated?

Each nominal observation is multiplied by the site’s reference CPI divided by the CPI for that observation’s year. The same inflation calculation is used across commodity charts.

Industrial Metals Series coverage: 1960–2025

Iron Ore (62% Fe) Historical Price Archive

Annual Iron Ore (62% Fe) Price Archive

Cite Data

Iron ore is the essential raw feedstock for blast furnace steelmaking.

Annual Iron ore, cfr spot benchmark price: World Bank annual nominal observations from the Pink Sheet workbook. Unit conversions and CPI adjustments are calculated by CommoditiesHistory.com. No incomplete 2026 annual value is included. Historical contract definitions differ from the modern 62% Fe CFR China spot benchmark; the workbook description documents the changes.

Iron Ore (62% Fe) Interactive Price History (1960–2025)

Inflation-Adjusted (Real 2026 USD)

Drag to pan, scroll to zoom, and hover for annual values.

Loading chart. Annual values are also available in the table below.

Data sources: World Bank Annual Observations

Iron Ore (62% Fe) Historical Eras & Macro Cycles

Detailed analysis of secular supercycles, wartime allocations, and price shocks

Iron Ore (62% Fe) historical observations

1960–2025

World Bank annual nominal observations from the Pink Sheet workbook. Unit conversions and CPI adjustments are calculated by CommoditiesHistory.com. No incomplete 2026 annual value is included. Historical contract definitions differ from the modern 62% Fe CFR China spot benchmark; the workbook description documents the changes.

Price Behavior Annual observations range from $8.8 to $167.8 ($/dry metric ton).

Key Catalysts

Supply and production
Industrial and consumer demand
International trade

Iron Ore (62% Fe) Complete Historical Price Table (1960–2025)

Nominal vs. Real Inflation-Adjusted Prices in 2026 USD

Year	Nominal Price ($/dry metric ton)	Real Price (2026 USD)	CPI / Historical Estimate	Historical Context / Market Event
2025	$100.20	$104.26	321.9	Simandou Guinea Mega-Mine Construction Progress
2024	$109.40	$116.83	313.7	China Peak Steel Output & Scrap EAF Transition
2023	$120.60	$132.58	304.7	—
2022	$121.30	$138.84	292.7	China Property Sector Liquidity Crisis (Evergrande, Country Garden)
2021	$161.70	$199.90	271.0	All-Time Record Spot High ($230+/t in May 2021 on Global Infrastructure Stimulus)
2020	$108.90	$140.95	258.8	—
2019	$93.80	$122.90	255.7	Vale Brumadinho Tailings Dam Disaster (Halts 90M Tonnes Output)
2018	$69.80	$93.11	251.1	—
2017	$71.80	$98.12	245.1	—
2016	$58.40	$81.51	240.0	—
2015	$55.90	$79.00	237.0	Pilbara Supply Deluge Collapses Price to Cyclical Low of $38/t
2014	$97.00	$137.25	236.7	—
2013	$135.40	$194.70	233.0	—
2012	$128.50	$187.48	229.6	—
2011	$167.80	$249.89	224.9	China Urbanization Peak ($190/t Spot Peak in Feb 2011)
2010	$145.90	$224.13	218.1	—
2009	$80.00	$124.91	214.5	China 4 Trillion RMB Stimulus Package
2008	$156.00	$242.71	215.3	Collapse of 40-Year Annual Benchmark System in Favor of Quarterly/Spot
2007	$123.00	$198.72	207.3	—
2006	$69.30	$115.15	201.6	—
2005	$65.00	$111.49	195.3	Historic 71.5% Annual Benchmark Price Increase Awarded to Vale
2004	$37.90	$67.21	188.9	—
2003	$32.00	$58.26	184.0	China Becomes World's Largest Steel Producer
2002	$29.30	$54.56	179.9	—
2001	$30.00	$56.74	177.1	—
2000	$28.80	$56.02	172.2	—
1999	$27.60	$55.49	166.6	—
1998	$31.00	$63.71	163.0	Asian Financial Crisis Slump
1997	$30.20	$63.03	160.5	—
1996	$30.00	$64.05	156.9	—
1995	$28.40	$62.42	152.4	—
1994	$26.50	$59.90	148.2	—
1993	$29.10	$67.46	144.5	—
1992	$33.10	$79.03	140.3	—
1991	$34.80	$85.59	136.2	—
1990	$32.50	$83.30	130.7	—
1989	$27.80	$75.10	124.0	—
1988	$24.30	$68.81	118.3	—
1987	$25.30	$74.60	113.6	—
1986	$26.30	$80.38	109.6	—
1985	$26.60	$82.81	107.6	Carajás Mine Opens in Brazil (Vale)
1984	$26.20	$84.47	103.9	—
1983	$29.00	$97.53	99.6	—
1982	$32.50	$112.82	96.5	—
1981	$28.10	$103.55	90.9	—
1980	$28.10	$114.23	82.4	—
1979	$23.50	$108.43	72.6	—
1978	$21.50	$110.46	65.2	—
1977	$23.10	$127.69	60.6	—
1976	$22.70	$133.64	56.9	—
1975	$17.30	$107.72	53.8	First Oil Shock Shipping Surcharges
1974	$13.40	$91.05	49.3	—
1973	$10.30	$77.71	44.4	—
1972	$10.30	$82.54	41.8	—
1971	$10.30	$85.19	40.5	—
1970	$9.80	$84.61	38.8	—
1969	$9.80	$89.45	36.7	—
1968	$8.80	$84.71	34.8	—
1967	$8.90	$89.26	33.4	—
1966	$9.50	$98.22	32.4	—
1965	$10.70	$113.79	31.5	Pilbara Western Australia Rail Infrastructure Opens (Mount Goldsworthy)
1964	$10.20	$110.22	31.0	—
1963	$11.00	$120.42	30.6	—
1962	$11.00	$122.01	30.2	—
1961	$11.00	$123.24	29.9	—
1960	$11.40	$129.01	29.6	Annual Japanese Mill Benchmark Contract System

Frequently Asked Questions: Iron Ore (62% Fe) History

Targeted answers to high-frequency historical and economic queries

What does this iron ore (62% fe) chart measure?: Annual Iron ore, cfr spot benchmark price. World Bank annual nominal observations from the Pink Sheet workbook. Unit conversions and CPI adjustments are calculated by CommoditiesHistory.com. No incomplete 2026 annual value is included. Historical contract definitions differ from the modern 62% Fe CFR China spot benchmark; the workbook description documents the changes.
What is the highest annual iron ore (62% fe) value in this dataset?: $167.8 ($/dry metric ton) in 2011 annual value. This is the highest annual observation within 1960–2025, rather than a daily market record.
How are inflation-adjusted prices calculated?: Each nominal observation is multiplied by the site’s reference CPI divided by the CPI for that observation’s year. The same inflation calculation is used across commodity charts.

Cite This Dataset

World Bank: Commodity Price Data (Pink Sheet): Iron ore, cfr spot — Data providers: VALE; CVRD; UNCTAD; World Bank.; Bloomberg Finance L.P.; Thomson Reuters Datastream, World Bank. — Underlying source data: CC BY 4.0. Source terms and acknowledgment requirements. Unit conversions and inflation adjustments by CommoditiesHistory.com.

APA (7th Edition)

Commodities History Project. (2026). Iron Ore (62% Fe) Historical Prices and Inflation-Adjusted Series (1960–2025) [Data set]. CommoditiesHistory.com. https://commoditieshistory.com/iron-ore

BibTeX

@dataset{commoditieshistory_iron-ore_2026,
  author = {{Commodities History Project}},
  title = {Iron Ore (62% Fe) Historical Prices and Inflation-Adjusted Series (1960–2025)},
  year = {2026},
  publisher = {CommoditiesHistory.com},
  url = {https://commoditieshistory.com/iron-ore}
}