Current Spot Price for Iron Ore and Real-Time Data Insights

The spot price for iron ore can fluctuate rapidly due to market forces.

The current spot price for iron ore is influenced by global demand and supply, with prices rising when demand outstrips supply.

In recent years, the spot price for iron ore has been impacted by the COVID-19 pandemic, with prices dropping significantly in 2020.

As of now, the spot price for iron ore is around $120 per ton, with real-time data indicating a slight increase in recent weeks.

Argus offers a daily written rationale for its ICX benchmark, providing transparency in the price-formation process.

The ICX benchmark is published with a daily written rationale, outlining exactly how much data, and of what type, went into the index, as well as how that data was weighted.

Argus' reliable and robust price assessments are coupled with industry-leading news, monthly and quarterly market analysis.

A unique monthly index data audit is also provided, giving users a deeper understanding of the data used to form the ICX benchmark.

Prices and news are delivered daily online through the Argus Metals platform and the flagship Argus Ferrous Markets report.

The Ferrous Midday intra-day update and the Ferrous Bulletin end-of-day Asia market wrap are also available for Asia-based market observers.

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Argus compiles iron ore assessments using volume-weighted averages of spot market activity across the entire day.

This approach ensures that the broadest possible data set is used for each day's index, which is weighted according to a hierarchy that places the greatest emphasis on concluded transactions.

The integration of trading screen and futures data makes this methodology well-suited to serve the modern iron ore marketplace.

Argus also publishes quality-driven brand prices for mainstream fines and lump grades, calculated using quality adjustments for iron content and impurities.

Each brand price is based on the entire market data set, not just that product, which enables each brand price to be published, irrespective of liquidity.

Argus has monitored Chinese port stock prices longer than any international price reporting agency, with its PCX index reflecting the average value of stocks at Qingdao port going back to 2013.

Argus has a unique approach to illiquid seaborne spot markets, such as those for lower-grade ores of 56.7pc Fe, which converts prices in Chinese yuan/wet tonne to a seaborne equivalent price in US dollars/dry tonne.

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With real-time data, you can make informed decisions about the spot price for iron ore.

You can access live and historical data on commodity price action, available for as long as you need.

As the global demand for steel continues to rise, iron ore producers are looking for ways to increase efficiency and reduce costs.

The spot price for iron ore has been influenced by the increasing demand for steel in emerging markets, particularly in China and India.

Chinese steel production has risen significantly in recent years, with a 10% increase in 2020 alone.

Iron ore producers are also facing pressure to reduce their environmental impact, with many companies setting ambitious targets to reduce their greenhouse gas emissions.

The Australian government has implemented policies to encourage the development of renewable energy sources and reduce emissions from the mining industry.

The spot price for iron ore has been affected by the COVID-19 pandemic, with a significant drop in demand in 2020.

Iron ore producers are diversifying their operations to reduce their reliance on a single market, with some companies investing in new mines in Africa and South America.

The World Steel Association has reported that global steel production is expected to increase by 3% in 2023.