The spot reference price for 62% Fe iron ore cfr North China rose 2.4% to $148.60 for the week ending January 25, 2013 but closed down 6.2% from the 15-month high $158.50 on 1/8/2013.  The price has since moved down by 0.1% this week to $148.40 on Monday.

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