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Iron Ore

96.24 USD/Mt 4.3 (4.68%) (Last updated - July 03, 2025 08:58 PM UTC )
Day High
107.03
Day Low
107.03
Previous Close
107.03
52 Week Range
91.98 - 219.77
Change YTD
-13.54%

About

Performance USD/oz Change
5 Day 4.88%
1 Month -1.61%
3 Months -13.54%
6 Months -13.54%
52 Week -13.54%

July 03, 2025 08:58 PM UTC

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Iron, the most common element on earth (by mass), constitutes nearly 5% of the earth’s crust. Iron ore is a type of rock from which metallic iron can be economically extracted. Hematite and Magnetite are the two principal iron ores found in the earth.

Most of the iron ore deposits are found in sedimentary rocks. The ores are formed by the combination of iron and oxygen in fresh and marine water, through a chemical reaction. Nearly, all of the Earth’s iron ore deposits are found in rocks that were formed over 1.8 billion years ago.

Most of the iron ore that is mined, is mainly used for the production of iron, which is then used for manufacturing steel. More than 98% of the world's iron ore is used in blast furnaces to make pig iron, which is the primary ingredient for manufacturing steel. The remaining 2% is used in other applications like cement manufacturing and coal wash plants.

China, currently the leading consumer of iron ore, consumes more than half of the world’s total production, followed by Japan and Korea. At the same time, Australia and Brazil combinedly dominate the world’s total iron ore exports. As per the United States Geological Survey and Geoscience Australia, Australia contains around 25% of the world's total iron ore followed by Brazil (19%).

Code Company Price Chg %Chg High Low Volume Market Cap
Basic Materials AKO Akora Resources Ltd 0.099 0.001 1 0.099 0.099 25,251 13.602 M
Basic Materials BCI BCI Minerals Limited 0.345 0 0.00 0.345 0.340 74,564 996.191 M
Basic Materials BCK Brockman Mining Ltd 0.015 0 0.00 0.015 0.015 -- 172.515 M
Basic Materials BHP BHP Group Limited 38.660 0.07 0.181 38.875 38.640 913,283 198,421.938 M
Basic Materials CIA Champion Iron Ltd 4.425 0.045 1.007 4.500 4.420 101,474 2,301.035 M
Basic Materials CTM Centaurus Metals Ltd 0.350 0 0.00 0.355 0.350 99,486 178.812 M
Basic Materials CUF Fe Ltd 0.006 0 0.00 0.006 0.006 -- 8.079 M
Basic Materials DRR Deterra Royalties Ltd 3.895 0.035 0.907 3.930 3.870 204,465 2,036.334 M
Basic Materials EFE Eastern Iron Ltd 0.031 0.001 3.125 0.031 0.031 1 4.161 M
Basic Materials EQN Equinox Resources Limited 0.078 0 0.00 0.078 0.078 -- 12.075 M
Basic Materials FEX Fenix Resources Ltd 0.285 0.005 1.724 0.290 0.285 120,341 207.521 M
Basic Materials FHS Freehill Mining Ltd 0.004 0 0.00 0.004 0.004 2,300,000 17.069 M
Basic Materials FMG Fortescue Ltd 16.360 0.03 0.184 16.490 16.340 1,091,554 50,217.837 M
Basic Materials GEN Genmin Ltd 0.026 0 0.00 0.026 0.026 30,000 23.069 M
Basic Materials GRR Grange Resources Limited 0.190 0.005 2.703 0.190 0.185 408,128 216.423 M
Basic Materials GWR GWR Group Ltd 0.092 0 0.00 0.092 0.092 -- 29.772 M
Basic Materials HAV Havilah Resources Ltd 0.180 0 0.00 0.185 0.180 47,483 61.066 M
Basic Materials HAW Hawthorn Resources Ltd 0.056 0 0.00 0.056 0.056 -- 18.761 M
Basic Materials HIO Hawsons Iron Ltd 0.020 0.001 4.762 0.021 0.020 1,693,641 19.314 M
Basic Materials HLX Helix Resources Ltd 0.001 0 0.00 0.001 0.001 1,185 3.364 M
Basic Materials IRD Iron Road Ltd 0.025 0 0.00 0.025 0.025 -- 20.767 M
Basic Materials JNO Juno Minerals Ltd 0.027 0 0.00 0.027 0.027 232 5.649 M
Basic Materials LCY Legacy Iron Ore Ltd 0.009 0 0.00 0.009 0.009 313,381 87.858 M
Basic Materials MGT Magnetite Mines Ltd 0.081 0 0.00 0.081 0.081 3,479 10.044 M
Basic Materials MGU Magnum Mining and Exploration Ltd 0.008 0 0.00 0.008 0.008 7,140,808 9.567 M
Basic Materials MGX Mount Gibson Iron Ltd 0.285 0.01 3.636 0.285 0.280 531,582 324.376 M
Basic Materials MIN Mineral Resources Ltd 24.850 0.11 0.441 25.790 24.690 758,043 4,905.114 M
Basic Materials MIO Macarthur Minerals Ltd 0.019 0 0.00 0.019 0.019 1 3.836 M
Basic Materials PFE Pantera Minerals Ltd 0.012 0 0.00 0.012 0.012 -- 6.633 M
Basic Materials PLG Pearl Gull Iron Limited 0.008 0 0.00 0.008 0.008 -- 1.636 M
Basic Materials RHI Red Hill Iron Ltd 3.060 0 0.00 3.060 3.060 -- 198.796 M
Basic Materials RIO Rio Tinto Ltd 108.800 0 0.00 109.330 108.360 151,748 176,794.698 M
Basic Materials SRK Strike Resources Ltd 0.032 0.001 3.03 0.032 0.032 300,000 9.364 M
Basic Materials TI1 Tombador Iron Ltd 0.350 0 0.00 0.350 0.350 -- 1.184 M
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Frequently Asked Questions

Pig iron is a form of crude iron and an intermediate product formed during the production of steel. It is obtained by smelting iron ore in the blast furnace and contains a high amount of carbon content, which typically ranges from 3.5 to 4.5%, making it brittle. Pig iron is used as the raw material for making steel. Oxygen is blown through the molten pig iron to lower its carbon content and convert it into steel. It takes about 1.6 tons of iron ore to produce one ton of steel.

The production of steel from iron ore requires mixing it with superheated metallurgical coal in a blast furnace. After that, superheated air with temperature ranging around 1,200 degrees Celsius is injected into the furnace to create a flame of nearly 2,000-degree Celsius temperature, which converts iron ore into molten pig iron and slag. Impurities are then removed, and alloys are added to cast the steel which is further cooled and rolled to be used as finished products.

The process of mining iron ore is very much similar to the extraction of other minerals. Firstly, the company holding the licence area explores the geology of the region to identify the best prospects for mining operations. After the identification of the ideal site, the ore is drilled and blasted, and transported to the primary crusher for processing. Then, the crushed ore is sorted in the form of lumps and fines, as per the screen size. A stacker then builds a stack in the stockyards to make the ore ready for transportation. Iron ore is then transported to trains with the help of conveyors and ultimately loaded in ships for export.

Iron ore is mined in more than 50 countries. The seven largest producers of the world account for around three-quarters of the world's total iron ore production. As per the United States Geological Survey (USGS) 2020 estimates, Australia is the leading iron ore producer followed by Brazil, China, India, and Russia. Based on crude ore reserves as well, Australia and Brazil are the leaders followed by Russia and China.

The Pilbara region of Western Australia is the key iron ore producing region followed by significant deposits in South Australia. There are hundreds of iron ore mining companies in Australia but among them, Rio Tinto (ASX:RIO), BHP Group (ASX:BHP), and Fortescue Metals Group Limited(ASX:FMG) are the leading players in the country.

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