Current Iron Ore Price in Mexico (2024 Context)
There is **no single "Mexico iron ore price."** Iron ore is a **global commodity** priced internationally. Mexico is a **minor producer (~15–20 Mt/yr)** and **net importer** of high-grade ore for its steel industry (ArcelorMittal, Ternium, DeAcero).
Benchmark Prices (June 2024)
- Platts 62% Fe CFR China: **~US$105–115 / dry metric ton (dmt).**
- Fastmarkets 65% Fe Brazil: **~US$120–130 / dmt.**
- Mexican Domestic (Peña Colorado, Las Encinas): Negotiated contract prices **linked to Platts + premium/discount** for grade, logistics, relationship.
Mexican Specifics
- Production:** ~18 Mt/yr (mostly 58–62% Fe). Major mines: **Peña Colorado** (ArcelorMittal/Ternium JV, Colima), **Las Encinas** (Ternium, Michoacán), **Cerro de Mercado** (Durango).
- Consumption:** ~20+ Mt/yr — **imports 5–10 Mt/yr** of high-grade (65%+) from Brazil (Vale), Canada (IOC), Chile.
- Pricing:** Mexican mills pay **import parity price** (Platts + freight + tariff (0% USMCA) + handling).
Where to Get Real-Time Quotes
- S&P Global Platts / Fastmarkets (MB) / Argus — Subscriptions (industry standard).
- Bolsa Mexicana de Valores (BMV) — Some mining co. stocks (Grupo México, Ternium, ArcelorMittal).
- SNL / S&P Capital IQ / Bloomberg / Reuters — Financial terminals.
- CANACERO (Mexican Steel Chamber) — Market reports.
Bottom Line
Use **Platts 62% Fe CFR China (~$110/dmt)** as proxy. Mexican transaction prices are **confidential bilateral contracts** referencing this benchmark.
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