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Value-in-use iron ore costs Q4 2025
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Report summary
The average global value-in-use (VIU) iron ore cost for Q4 2025 is US$60.5/t on a 62% Fe fines, CFR China basis. This cost is up 1.1% from Q3 2025 and 1.0% year-on-year. The average global value-in-use (VIU) iron ore cost for Q4 2025 is US$57.5/t on a 61% Fe fines, CFR China basis. We have updated Australian, Brazilian and Indian iron ore costs for Q4 2025. In 2025, a strong dollar will offset increases in costs denominated in local currencies. We expect that a weaker US dollar will have a positive impact on the cash costs of iron ore denominated in US dollars in 2026.
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