The spot reference price for 62% Fe iron ore cfr North China was unchanged for the week ending October 5, 2012, coming in at $104.20/tonne each day of the week, and remained some 17.1% higher than the recent low of $89.00 on 9/7/2012.

For the first quarter of 2012, the spot price for iron ore averaged $141.84, and for 2Q, $139.35; this compares to an average of $176.90 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