Base metals & ore · World Bank monthly average
What is the Iron ore price and how has it changed?
Iron ore averaged 97.70 US dollars per dry metric ton unit in September 2026, according to the World Bank Pink Sheet. That is 1.5% above Aug 2026 and 5.4% below Sept 2025, and in the middle half of all monthly averages since January 2000.
- Sept 2026 average
- 97.70$/dmtu · US dollars per dry metric ton unit
- Month on month
- ▲ +1.5%from 96.30 in Aug 2026
- Year on year
- ▼ −5.4%from 103.30 in Sept 2025
- 12-month range
- 96.30–108.60low Aug 2026 · high May 2026
The last five years
What the record shows
- Over five years the price ranged from 92.30 (Jun 2025) to 152.10 (Mar 2022). Sept 2026 sits 9% of the way from that low to the high.
- Since January 2000 the record high is 214.40 (Jun 2021) and the low 28.80 (Jan 2000). The latest month is higher than 56% of the 321 monthly averages in that span, in nominal dollars (not adjusted for inflation).
- The highest full-year average since 2000 was 2011 (167.76); the lowest was 2000 (28.80).
- Annualised volatility of monthly changes over the past five years was 27.3%, close to the 31.6% for the whole record since 2000. Monthly averages smooth out intra-month swings, so daily markets move more than this.
- Five years earlier, in Sept 2021, the average was 124.50: the price is 21.5% below that level.
Yearly averages
| Year | Average | vs prior year | Highest month | Lowest month |
|---|---|---|---|---|
| 2026 9 mo. | 101.83 | ▲ +1.6% | 108.60 May | 96.30 Aug |
| 2025 | 100.18 | ▼ −8.4% | 105.10 Feb | 92.30 Jun |
| 2024 | 109.41 | ▼ −9.3% | 135.80 Jan | 92.80 Sep |
| 2023 | 120.59 | ▼ −0.6% | 137.10 Dec | 105.20 May |
| 2022 | 121.30 | ▼ −25.0% | 152.10 Mar | 92.60 Oct |
| 2021 | 161.70 | ▲ +48.4% | 214.40 Jun | 96.20 Nov |
| 2020 | 108.93 | ▲ +16.1% | 155.40 Dec | 84.70 Apr |
| 2019 | 93.86 | ▲ +34.5% | 120.20 Jul | 76.20 Jan |
| 2018 | 69.77 | ▼ −2.8% | 77.50 Feb | 64.60 Jul |
| 2017 | 71.76 | ▲ +22.8% | 89.40 Feb | 57.50 Jun |
| 2016 | 58.43 | ▲ +4.6% | 80.00 Dec | 41.90 Jan |
| 2015 | 55.87 | ▼ −42.4% | 68.20 Jan | 40.50 Dec |
| 2014 | 96.96 | ▼ −28.4% | 128.10 Jan | 68.40 Dec |
| 2013 | 135.37 | ▲ +5.3% | 154.60 Feb | 114.80 Jun |
| 2012 | 128.51 | ▼ −23.4% | 147.60 Apr | 99.50 Sep |
| 2011 | 167.76 | ▲ +15.0% | 187.20 Feb | 135.50 Nov |
| 2010 | 145.87 | ▲ +82.3% | 172.50 Apr | 125.70 Jan |
| 2009 | 80.00 | ▼ −48.7% | 105.10 Dec | 59.80 Apr |
| 2008 | 156.00 | ▲ +26.8% | 197.10 Mar | 65.00 Nov |
| 2007 | 123.00 | ▲ +77.4% | 195.10 Nov | 78.20 Jan |
| 2006 | 69.33 | ▲ +6.7% | 73.50 Nov | 65.20 Feb |
Since January 2000
Largest one-month moves since 2000
| Month | From | To | Move |
|---|---|---|---|
| Jan 2005 | 37.90 | 65.00 | ▲ +71.5% |
| Oct 2008 | 139.60 | 88.70 | ▼ −36.5% |
| Nov 2008 | 88.70 | 65.00 | ▼ −26.7% |
| Dec 2020 | 124.40 | 155.40 | ▲ +24.9% |
| Aug 2021 | 214.10 | 162.20 | ▼ −24.2% |
What exactly is being priced?
Iron ore (any origin) fines, spot price, c.f.r. China, 62% Fe from December 2008; previously 63.5% Fe. The World Bank publishes the series as a monthly average in US dollars per dry metric ton unit ($/dmtu). Benchmark definitions occasionally change, as noted above, so very long comparisons mix slightly different contracts. See commodity price units explained for converting units.
Sources
- World Bank Commodity Price Data (The Pink Sheet), monthly prices workbook (updated October 02, 2026; retrieved 16 Oct 2026). Licensed CC BY 4.0.
- Method for changes, ranges and volatility: methodology.