The spot reference price for 62% Fe iron ore cfr North China rose 1.2% to $129.60 for the week ending May 10, 2013, increasing from last week’s price of $128.10, which was the lowest since December 13, 2012.

The spot price for iron ore averaged $139.35 in 2Q12, $112.12 in 3Q12, $120.57 in 4Q12, and $148.16 in 1Q13; the full-year 2012 average was $128.30.

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