Iron Ore Price

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Iron ore – Weekly Chart
Iron ore – Yearly Chart

About Iron ore

  • Australia is the largest exporter of iron ore in the world, with $61 billion in total export value 2017-18 (Source; DFAT, 2017/18)
  • Western Australia is the largest producer and exporter in the world accounting for 38% of global production and 57% of seaborne exports in 2017 (Source; Iron Ore Profile, WA Govt 2018)
  • China (83%) was the largest importer of WA iron ore in 2017 followed by Japan, South Korea & Taiwan (Source; WA Govt 2018)
  • West Australian producers are among the lowest cost exporters in the world at $27.10 USD p/tonne in 2017, below the world average of $28.9 USD p/tonne. (Source; WA Govt 2018)
  • Western Australia exports are forecast to rise to 839 million tonnes by 2021. In 2016 total reserves were estimated at 57 billion tonnes, capable of sustaining current production levels for 67 years. (Source; WA Govt 2018)
  • The sector is a major employer in the Pilbara region of Western Australia, contributing to an estimated regional gross product of $28 billion a year in towns including Karratha, Port Hedland, Onslow, Tom Price, Newman and Wickham.
  • 1400 kilograms of iron ore and 800 kilograms of metallurgical coal is needed to produce 1000 kilograms of crude steel.