The spot reference price for 62% Fe iron ore cfr North China fell some 1.7% to $132.80 for the week ending July 13, 2012, from $135.1o last week. The price of iron ore has been relatively stable for the past two months now, trading in a range of $130-140/tonne.

For the first quarter of 2012, the iron ore price averaged $140.37, and for 2Q, $142.63; this compares to an average of $178.22 for 1H 2011 and $167.59 for full-year 2011. 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