Steelmaking raw material prices iron ore coal gas electricity.

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Steelmaking Commodity Prices.

World steel raw material & energy costs


Price per cost unit
YearMonthThermal Coal
$/tonne
Iron Ore
$/tonne
Natural Gas
$/BTU m
Electricity
c/kWh
2015161.4468.239.256.62
2015269.0562.758.276.88
2015364.7658.058.276.79
2015456.2452.286.776.55
2015561.1960.36.686.65
2015658.9662.636.676.98
2015759.952.396.697.3
2015859.1456.196.357.32
2015957.6556.956.287.18
20151054.2653.126.036.87
20151152.4746.865.56.59
20151252.2140.55.096.42
2016149.0241.884.46.44
2016250.2746.833.976.42
2016352.2156.23.916.46
2016450.6960.923.976.44
2016551.3155.134.336.57
2016652.8551.984.767.03
2016761.2457.264.677.23
2016867.3960.894.057.23
2016972.7257.794.257.14
20161094.259.095.346.73
201611103.4373.15.696.66
20161288.1580.025.426.67
2017183.7380.416.146.59
2017279.9889.446.056.63
2017380.987.6556.71
2017483.6570.225.016.6
2017574.4262.435.066.78
2017681.0957.484.897.19
2017787.4967.7457.31
2017898.5876.075.487.22
2017997.8271.535.967.17
20171097.1161.666.186.91
20171196.6464.246.696.73
201712100.8172.257.146.54
20181106.4576.346.666.95
20182105.9577.466.726.81
2018396.6670.356.76.66
2018493.6965.756.936.58
20185105.2966.17.496.82
20186114.3365.047.457.18
20187119.5764.567.67.34
20188117.3467.158.087.22
20189114.1668.449.527.17
201810108.7373.418.796.91
201811100.7373.268.276.88
201812101.3769.157.986.65
2019198.5676.167.266.58
2019295.4288.226.016.68
2019393.1286.475.186.73
2019486.7793.704.926.53
2019582.32100.24.346.71
2019672.49108.93.596.91
2019772.08120.23.627.18
2019865.693.073.687.44
2019966.093.084.217.09
20191068.988.55.066.85
20191167.085.05.156.73
20191266.292.74.626.37
2020169.795.83.636.33
2020267.687.72.916.42
2020366.789.02.726.40
2020458.684.72.126.41
2020552.593.71.586.48
2020652.2103.31.756.95
2020751.6108.51.807.17
2020850.1121.12.867.09
2020954.6123.83.957.01
20201058.4119.84.896.72
20201164.4124.44.846.48
20201283.0155.45.866.40
2021186.8169.67.276.35
2021286.7163.86.168.15
2021394.9168.26.137.01
2021492.2179.87.15n/a
20215107.0207.78.91n/a
20216130.0214.410.30n/a

Table last updated: 10th July 2021. Next update: ~10th August 2021.


Comment on recent commodity price trends

Prices for iron ore have been rallying for some time, having doubled in the last 12 months. The price rise appears to be driven by growing steel demand in China - fuelled by very strong construction sector growth. Note also the recent increase in European natural gas prices, which have risen by ~50% since early-2021.


Notes and commodity definitions

Thermal Coal: Australian, 1200 btu/pound, less than 1% sulfur 14% ash, fob Newcastle, Port Kembla. This data is expressed in US $ per metric tonne.

Iron Ore: price figures are for Chinese imported iron ore fines (62% Fe spot, CFR Tianjin port). The units are $ per metric tonne.

Natural Gas and Electricity Costs: Gas is Russian origin, border price in Germany expressed in US $ per million metric British Thermal Units. Electricity figures are average monthly US costs for industrial consumers. Units are cents per kilowatt hour.



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