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Iron Ore Price — 10-Day Trend
All prices in ₹ per gram · daily rate, updated once per day
What Direct Reduced Iron Actually Is
Direct reduced iron — DRI, in the shorthand traders and mills actually use — is iron made without a blast furnace. Instead of melting iron ore inside a giant coke-fired furnace, the way steelmakers have done for well over a century, a DRI plant strips the oxygen out of solid iron ore pellets at lower temperatures using natural gas or, increasingly, hydrogen. The ore never melts. What comes out the other end is a solid, porous lump of nearly pure iron, informally called sponge iron, which an electric arc furnace can then melt down into steel.
Today's reference rate for the raw ore behind either route sits at ₹0.01 per gram (₹8.53 per kilogram), as of September 17, 2026. Whether that ore ends up in a blast furnace or a DRI plant, it's priced the same way on the seaborne market — it's what happens after the ore arrives at the mill that differs, and that difference is what this page is really about.
- Per kilogram: ₹8.53
- Per metric tonne: ₹8,533.00
Iron Ore Price by Weight
Today's Iron Ore rate is Less than One Rupees per gram. At this rate, 10 grams of Iron Ore costs Less than One Rupees.
| Unit | Weight | Price (INR) | Price in Words |
|---|---|---|---|
| 1 Gram | 1.0000 g | ₹0.01 | Less than One Rupees |
| 8 Grams | 8.0000 g | ₹0.07 | Less than One Rupees |
| 10 Grams | 10.0000 g | ₹0.09 | Less than One Rupees |
| 100 Grams | 100.0000 g | ₹0.85 | One Rupees |
| 1 Kilogram | 1,000.0000 g | ₹8.53 | Nine Rupees |
| 1 Ounce (oz) | 28.3495 g | ₹0.24 | Less than One Rupees |
| 1 Troy Ounce | 31.1035 g | ₹0.27 | Less than One Rupees |
| 1 Metric Ton | 1,000,000.0000 g | ₹8,533.00 | Eight Thousand Five Hundred and Thirty Three Rupees |
Blast Furnace vs. Direct Reduced Iron: A Side-by-Side Look
Both routes solve the same basic problem — getting oxygen out of iron ore — in genuinely different ways, and the differences run well past the fuel tank. Here's how the two actually compare.
| Attribute | Blast Furnace (BF) | Direct Reduced Iron (DRI) |
|---|---|---|
| Reducing agent | Coke (a coal-derived fuel) | Natural gas, or increasingly hydrogen |
| How the ore is processed | Ore is melted inside the furnace | Ore stays solid; oxygen is stripped out at lower heat |
| Feedstock ore grade needed | Can run on sinter/pellet blends around the 62–65% Fe benchmark | Needs high-grade "DR-grade" ore, commonly above roughly 67% Fe with low impurities |
| CO2 emissions profile | The industry's traditional, more carbon-intensive route | A meaningfully lower-carbon route when run on hydrogen, versus natural gas |
| Output product | Molten (liquid) iron, fed to a basic oxygen furnace | "Sponge iron" (solid), typically fed to an electric arc furnace |
| Global adoption today | The dominant, still-mainstream global steelmaking route | A real but still-emerging share of global output |
Why the grade requirement is the real bottleneck
DR-grade ore commonly needs to run above roughly 67% Fe with very low silica — a meaningfully tighter spec than the sinter-feed blends a blast furnace can process around the standard 62% Fe benchmark. That's a big part of why DRI hasn't simply replaced blast furnaces overnight: high-grade DR-grade ore is a smaller slice of what the world actually mines, and building out that supply chain takes years, not quarters.
Iron Ore Price — Last 10 Days
The most recent Iron Ore price on record (2026-09-17) is Less than One Rupees per gram.
| Date | Price (INR/g) | Change |
|---|---|---|
| 2026-09-17 | ₹0.01 | +0.00 |
| 2026-09-16 | ₹0.01 | 0.00 |
| 2026-09-15 | ₹0.01 | 0.00 |
| 2026-09-14 | ₹0.01 | +0.00 |
| 2026-09-13 | ₹0.01 | +0.00 |
| 2026-09-12 | ₹0.01 | 0.00 |
| 2026-09-11 | ₹0.01 | 0.00 |
| 2026-09-10 | ₹0.01 | 0.00 |
| 2026-09-09 | ₹0.01 | +0.00 |
| 2026-09-08 | ₹0.01 | — |
Where Green Steel Actually Stands Today
"Green steel" is shorthand for steel made with meaningfully lower carbon emissions than the traditional coke-and-blast-furnace route — most commonly, DRI running on hydrogen instead of natural gas, since hydrogen's by-product is water rather than CO2. It's a real, publicly documented industry effort, not a phrase invented for this page. Sweden's HYBRIT initiative, a joint venture between steelmaker SSAB, miner LKAB and utility Vattenfall, has been running pilot-scale hydrogen-DRI production for years and has publicly stated ambitions to reach commercial-scale fossil-free steel. In Germany, thyssenkrupp is building a hydrogen-capable direct reduction plant at its Duisburg site, one of the more closely watched green-steel projects in Europe.
None of this has been a straight line. thyssenkrupp itself paused part of its green-hydrogen purchasing process after early price quotes from suppliers came in well above expectations — a reminder that the economics of hydrogen-based steelmaking are still being worked out in the real world, not just on a whiteboard. Building the electrolysers, the renewable power supply, and the DR-grade ore supply chain all at once is a genuinely hard problem, and it could take a decade or more for hydrogen-DRI to move from pilot projects to a meaningful share of global steel output.
What looks more likely than a full replacement, at least over the next several years, is a gradual blend: more DRI capacity coming online alongside blast furnaces, not instantly displacing them. If that shift does keep building, it could eventually nudge demand toward higher-grade ore and pellets — a dynamic worth watching on this site's iron ore producing countries page, since not every major exporter today ships ore that meets DR-grade specifications. Nobody can say with certainty how fast that transition moves, and this page won't pretend otherwise — but the direction of travel, however gradual, looks real.
Direct Reduced Iron and Green Steel — FAQs
DRI is iron made by chemically stripping oxygen out of solid iron ore pellets using natural gas or hydrogen, at temperatures below the ore's melting point. Unlike a blast furnace, the ore never actually melts — the result is a solid, porous, iron-rich product often called sponge iron, which an electric arc furnace can then melt down into steel.
A blast furnace uses coke, a coal-derived fuel, to melt iron ore into liquid iron — it's the traditional, still-dominant global steelmaking route. DRI uses natural gas or hydrogen instead, runs at lower temperatures, keeps the ore solid throughout, and needs a higher grade of ore to begin with.
Green steel is shorthand for steel made with meaningfully lower carbon emissions than the traditional coke-and-blast-furnace route — most commonly, DRI running on hydrogen instead of natural gas, since hydrogen's by-product is water rather than CO2. It's a real, publicly documented industry effort, backed by pilot and demonstration projects at several major steelmakers, not an established mainstream production method yet.
Yes. DR-grade ore commonly needs to run above roughly 67% Fe with low impurities, a meaningfully tighter specification than the sinter and pellet blends a blast furnace can process around the standard 62% Fe benchmark. That tighter requirement is one real reason DRI hasn't simply replaced blast furnaces overnight — high-grade DR-grade ore is a smaller slice of what the world currently mines.
Not yet. Blast furnaces still produce the overwhelming majority of the world's steel. Hydrogen-based DRI exists in real pilot and early commercial projects — Sweden's HYBRIT initiative and Germany's Duisburg direct-reduction plant among them — but scaling that up to a meaningful share of global output is a multi-year undertaking, not something that has already happened.
Not directly, and not yet. This page's rate of ₹0.01 per gram tracks the standard 62% Fe fines benchmark referenced across the whole seaborne market. If DRI capacity keeps growing, it could gradually shift demand toward higher-grade ore and pellets over time — but that's a structural, multi-year trend to watch, not something that moves today's reference price.
