The spot reference price for 62% Fe iron ore cfr North China fell 1.8% to $116.50 for the week ending June 28, 2013, ending three consecutive weekly gains after bottoming at $110.40 for the week ending May 31.   The price dropped as low as $113.80 early in the week, but rebounded over the last three days.

The spot price for iron ore averaged , $112.12 in 3Q12, $120.57 in 4Q12, $148.16 in 1Q13 and $125.76 in 2Q13; 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