How much iron ore does Canada produce and export?
Canada is the nullth largest producer of iron ore: 69 million tonnes in 2025, 2.7% of the world's 2.6 billion tonnes (USGS MCS). It is the 3rd largest exporter by value: $6.7 billion in 2024, 4.2% of world exports of iron ore (HS 2601) (CEPII BACI). Its biggest customer is China, which takes 26% of its iron ore exports by value.
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Canada's iron ore production
| World rank | Production (tonnes) | Share of world | Ten-year growth | Year |
|---|---|---|---|---|
| 69 million tonnes | 2.7% | — | 2025 |
USGS Mineral Commodity Summaries, MCS 2026.
Canada's iron ore exports
| World rank | Export value | Share of world exports | Quantity (tonnes) | Average value per tonne | Year |
|---|---|---|---|---|---|
| 3 | $6.7 billion | 4.2% | 61.2 million t | $110 | 2024 |
CEPII BACI international trade database (HS22, V202601), HS 2601 (Iron ores and concentrates).
Where Canada's iron ore goes
| Destination | Value | Share of Canada's exports |
|---|---|---|
| China | $1.7B | 26% |
| Netherlands | $951M | 14% |
| Japan | $803M | 12% |
| Germany | $472M | 7% |
| South Korea | $465M | 6.9% |
Canada as a buyer of iron ore
Of its $776.4 million of iron ore imports in 2024, 96% came from the United States and 3% from Bahrain, among 29 suppliers.
The iron ore price Canada sells into
The benchmark price, 62% Fe fines, CFR China spot, was $97.7/dmtu in September 2026, down 5% over twelve months. Its five-year volatility is 27% a year, calmer in 70% of its earlier five-year windows. A single country's export price can differ from the benchmark: see trade price against benchmark. Monthly averages lag the market and are not investment advice. Iron ore price history.
Cite as: Commodity Origins, "Canada iron ore: production, exports and prices", https://commodityorigins.com/countries/CAN/iron-ore/ (CC BY 4.0). Rankings count only countries reporting to the sources named; this page is shown only for top-five producers or exporters with at least 3% of the world total. Report an issue with this page.