The spot reference price for 62% Fe iron ore cfr North China fell 6.3% to $145.10 for the week ending January 18, 2012 and closed down 8.5% from the 15-month high $158.50 on 1/8/2012.  The price has since moved up by 0.6% this week to $145.90 on Tuesday.

The spot price for iron ore averaged $139.35 in 2Q12, $112.12 in 3Q12, and $120.57 in 4Q12; this compares to an average of $128.30 for full-year 2012.

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