How Can You Find the Most Current Price for Iron Per Pound?

How Can You Find the Most Current Price for Iron Per Pound?

To find the most current price of iron per pound, visit a website that maintains commodity price charts, such as InfoMine or Quandl. The websites display prices of iron per metric ton, so use a pound-to-metric tons converter to figure out the price per pound.

For example, Quandl lists the price of iron ore for September 2015 at $55.80 per metric ton. A metric ton is equivalent to 2,204.6 pounds. Doing the proper calculations, which in this case would be 55.80 divided by 2204.6, yields a result of 2.53 cents per pound. These sites also offer price charts for different periods so that a buyer can keep track of fluctuations.