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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

Data Powered by Stockdio. Data delayed by 5 minutes unless otherwise indicated.

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

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Frequently Asked Questions

1. What is pig iron?

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.

2. How is steel produced from iron ore?

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.

3. How is iron ore mined?

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.

4. Which countries are the largest producers of iron ore in the world?

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.

5. Where are the biggest iron ore sources located in Australia and who are the key players?

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.