Iron ore set to average $100 a tonne for the first time since 2013.

Iron ore, the steel making ingredient that is the biggest generator of profits for leading miners, is on course to average $100 a tonne over the year for the first time since 2013.

The resilience of the material has helped the mining industry sidestep the worst damage from the coronavirus pandemic, which has hammered other sectors such as oil and gas by cutting away demand for energy.

Iron ore is the best-performing major commodity of 2020, up almost up 38 per cent, according to data from SandP Global Platts. In contrast, gold, which benefited from investors looking...