Iron ore prices rise — what is driving the cost surge.

Iron ore prices worldwide have reached their highest level since May 2025. China has initiated supply-side reforms, increasing expectations for an improvement in the steel market. This was reported by Bloomberg.

How much does a ton of iron ore cost

Futures for iron ore have been rising for the second consecutive week, surpassing the $96 per ton mark. China promises to eliminate outdated industrial capacities, stimulating expectations for further price increases in ore.

Throughout the year, prices for iron ore have declined by almost 15% due to issues with the development of the Chinese economy. Additional pressure on prices has been created by supplies from Australia and Brazil, which are the main suppliers of ore.

Ore prices — what to expect next

Experts believe that since there are significant production capacities in the steel market, prices for iron ore may remain in the range of $95 to $100 per ton.

'To reduce steel production volumes, it is necessary to cut domestic demand or exports. Otherwise, compulsory production reduction may be possible. We believe that the increase in supply holds the potential for further price increases and makes a level above $100 per ton unstable,' explained Goldman Sachs.

It is worth noting that the Kwan'yan metallurgy plant is considered the largest in the world. It has one of the largest blast furnaces, with a volume of 6,000 m³.

Information about salary sizes at the largest metallurgical enterprises in Ukraine and available positions has also been circulated.