The spot reference price for 62% Fe iron ore cfr North China fell 0.9% to $150.60 for the week ending March 1, 2013 and moved down another 1.2% to $148.8 on Monday – down some 6.4% from the recent high of $158.90 reached on February 20, 2013.

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