The spot reference price for 62% Fe iron ore cfr North China decreased 2.0% to $131.80 for the week ending September 20, 2013, falling as low as $131.10 on September 17 before climbing slightly at the end of the week.  The price is at a seven-week low.

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 $191.90 on February 17, 2011.

Source: The Steel Index