Iron ore CFD benchmark prices closed at USD 110.33 per tonne on 19 May 2026, down 0.19 percent day-on-day, up 3.03 percent over the prior month, and up 10.27 percent year-on-year, according to Trading Economics.
The recent uptick has been supported by Chinese mill restocking, while futures softened on 15 May on high port-side inventories. Vale, Rio Tinto, and BHP shares have priced in roughly USD 100 per tonne for 2026 averages.
Why it matters for green steel: Sustained iron-ore prices above USD 100/t tighten BF-BOF margins and modestly improve the relative economics of scrap-based EAF and DR-grade pellet routes — including those feeding hydrogen-DRI plants.