The spot reference price for 62% Fe iron ore cfr North China fell some 2.7% this week to $131.40 on Friday, June 8, 2012. The current price is just 1.2% above the six-month low of $129.90 seen on May 23 and is down some 12.1% from the recent peak of $149.40 on April 13.

The post-recession low was $59.10 on March 27, 2009, while the high was $190.19 on February 17, 2011.

Source: The Steel Index