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Iron Ore Reference Rate — 10-Day Trend
All prices in ₹ per gram · daily rate, updated once per day
The "Big Three" and India's Own Champion
Global seaborne iron ore supply runs through a small number of enormous companies. Vale, Rio Tinto and BHP — often called the "Big Three" — together account for the majority of the metal moving across oceans to steel mills worldwide. Today's iron ore reference rate is ₹0.01 per gram on September 17, 2026.
- Vale: Brazil-headquartered, the world's largest iron ore producer by volume
- Rio Tinto: UK-listed, Pilbara operations in Western Australia
- BHP: the world's largest publicly traded mining company, also Pilbara-based
- NMDC: India's largest iron ore miner, dominant in the domestic market
Iron Ore Reference Rate 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 | ₹8.54 | 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 | ₹8,535.00 | Eight Thousand Five Hundred and Thirty Five Rupees |
Scale Numbers That Actually Put This in Perspective
Vale produced 321 million metric tonnes of iron ore in 2023, Rio Tinto around 290 million, and BHP over 257 million — each company individually moving more iron ore in a year than most countries' entire steel industries consume. NMDC, by contrast, hit a production milestone of 40 million tonnes annually in 2021, a fraction of the Big Three's scale but still enough to anchor India's domestic supply.
Why none of these are pure iron ore plays
Rio Tinto and BHP both run substantial copper and aluminium businesses alongside iron ore; Vale produces nickel and other base metals too. Buying shares in any of the Big Three means buying exposure to a diversified mining portfolio, not a clean bet on iron ore prices alone — a genuinely different proposition than a smaller, more iron-ore-concentrated producer like NMDC.
| Company | 2023 Production | Headquarters |
|---|---|---|
| Vale | 321 million tonnes | Brazil |
| Rio Tinto | ~290 million tonnes | United Kingdom |
| BHP | 257+ million tonnes | Australia |
| NMDC | ~40 million tonnes (2021 milestone) | India |
Iron Ore Reference Rate — 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 | — |
What to Weigh Before Choosing Between Them
The Big Three trade on global seaborne demand, especially from China's steel industry, and carry currency and multi-commodity diversification risk on top of iron ore's own price swings. NMDC's fortunes tie more closely to India's domestic steel demand and government mining policy specifically. Neither risk profile is inherently better — they simply respond to different demand pools.
For iron ore's own price trend, separate from any company, the comparison table and history above track the live reference rate, and the site's iron ore price history page holds a longer record.
This page is for general information, not investment advice. Company shares carry risks beyond the underlying commodity price. Consider consulting a qualified financial advisor before making investment decisions.
Iron Ore Mining Stocks — Common Questions
Vale (Brazil), Rio Tinto (UK-headquartered, Pilbara operations in Australia), and BHP (the world's largest publicly traded mining company, also anchored in the Pilbara) together dominate global seaborne iron ore supply, each producing well over 250 million tonnes annually.
NMDC is India's largest iron ore miner, operating mining complexes across multiple states. It hit a production milestone of 40 million metric tonnes per year in 2021, making it the dominant domestic supplier to India's steel industry.
Not a single-commodity iron ore ETF with the retail profile of a gold ETF. Investors seeking iron ore exposure typically look at the mining companies directly, or broader diversified mining and materials funds that include iron ore producers among their holdings.
No — all three are diversified miners. Rio Tinto and BHP both have substantial copper, aluminium and other metal operations alongside iron ore, while Vale also produces nickel and other base metals. Iron ore is a major, but not exclusive, part of each company's business.
Not really at global scale — NMDC's output is a fraction of the Big Three's combined production and serves primarily India's domestic steel industry, while Vale, Rio Tinto and BHP compete in the much larger global seaborne export market, especially into China.
