Abstract: The global iron ore resources are abundant , but the distribution is uneven .About 60%of global iron ore resources come from Australia , Russia and Brazil .In the past century , the production of iron ore has been increasing , which makes iron ore over supply .This situation would last for a pe-riod, and the price iron ore would continuously decrease .The average iron grade is 25.54%in Chi-na , which is lower than foreign average grade .The average iron recovery in China , however , is up to 76.09%, which is slightly higher than foreigh average recovery .In this paper , the status quo of global iron ore resource and application is comprehensively introduced , and the supply and demand as well as price changes are analyzed in detail .Furthermore , this study provides reasonable refer-ences for investment , exploitation and management .of iron ore industry in China .