1 billion tonnes, page-9

There are two types of IO price, the spot price and benchmark contract price. In hot time spot price is much higher than benchmark price. In cold time, these two prices would be up/down around together.

[A] Iron Ore - Annual Contract Prices

Contracted Prices
units : US Dollars per ton (dry metric ton or tonne).
note that one metric ton or tonne = 1000 kg = 2205 pounds avoirdupois.
(1) (2) (3)
fines lump ore pellets
contract
year ___________________________________________________________
1976 | 22.70 na 43.80 $s/metric ton (tonne)
1977 | 23.00 na 42.80
1978 | 21.50 na 36.40
1979 | 23.30 na 39.90
1980 | 28.10 na 47.00
1981 | 28.10 na 43.00
1982 | 32.50 na 47.50
1983 | 29.00 na 39.00
1984 | 26.10 na 36.00
1985 | 26.50 na 36.00
1986 | 26.20 na 36.60
1987 | 24.50 na 36.70
1988 | 23.50 na 40.30
1989 | 26.50 na 47.30
1990 | 30.80 na 51.60
1991 | 33.20 na 52.10
1992 | 31.60 na 48.40
1993 | 28.10 33.00 43.60
1994 | 24.40 30.40 43.60
1995 | 26.90 33.30 49.10
1996 | 28.50 35.20 52.40
1997 | 28.80 35.20 52.10
1998 | 29.60 36.20 53.50
1999 | 26.90 32.20 46.40
2000 | 27.60 33.90 49.20
2001 | 28.90 35.10 50.10
2002 | 28.60 34.30 47.30
2003 | 31.40 37.30 52.00
2004 | 37.30 44.40 61.80
2005 | 64.00 79.00 115.50
2006 | 76.20 94.00 112.00
2007 | 83.40 ' (fn1)
early 2008 Feb | 132.20 '
late 2008 Oct | 90.60 '


Sources : CVRD, Wall Street Journal, US Steel and
other steel producers.

fn1 = Based on news of 2006 Dec 22 deal between Baosteel and
CVRD for one year starting April 1, 2007.

Price agreement prices.
Iron Ore Prices - contracted prices
Notes: Brazil to Europe
Contracts generally made in the spring/early summer
between iron ore producers and steel manufacturers.
The prices given below are prices arranged at the
beginning of May of the given year.
(1) FINES : the most heavily-traded category
of iron ore.
(2) LUMP ORE : Lumb ore consists of golfball sized pieces,
and has higher iron content than fines.
(3) PELLETS : Iron ore in "pellets" are semi-refined
iron ore; blast furnace pellets.

**************
[B] Spot Price - Fines Only

Spot prices based upon reports of buyers.
units : USD per metric ton or tonne, 2205 pounds.

Month iron ore
yyyy-mm spot price, fines
_______ ______
2005-03 90.00 $/tonne
2005-04 76.00
2005-05 77.00
2005-06 57.00
2005-07 62.00
2005-08 69.00
2005-09 67.00
2005-10 64.00
2005-11 66.00
2005-12 66.00
2006-01 61.00
2006-02 64.00
2006-03 63.00
2006-04 66.00
2006-05 64.00
2006-06 67.00
2006-07 66.00
2006-08 67.00
2006-09 66.00
2006-10 70.00
2006-11 70.00
2006-12 70.00
2007-01 78.00
2007-02 82.00
2007-03 91.00
2007-04 95.00
2007-05 100.00
2007-06 102.00
2007-07 102.00
2007-08 125.00
2007-09 151.00
2007-10 170.00
2007-11 180.00
2007-12 185.00
2008-01 180.00
2008-02 196.00
2008-03 191.00
2008-04 186.00
2008-05 178.00
2008-06 177.00
2008-07 183.00
2008-08 150.00
2008-09 109.00
2008-10 62.00
2008-11 71.00
2008-12 77.00

Sources: EconStats based upon buyers reports.