The index represents the spot price for iron ore fines with 62% iron content imported into China, serving as a key indicator of global prices for raw materials in the metallurgical industry, with the primary trading region in China as the leading importer. In 2026, values ranged from 92.33 USD/ton to 105.53 USD/ton with an average level of 100.11 USD/ton. The index is based on iron ore fines, spot price, c.f.r. China, 62% Fe beginning December 2008; previously 63.5%, according to World Bank data.