Monday, December 13,
Spot iron ore prices were mostly unchanged on the Chinese market on Monday, with 63.5 percent iron ore from India being offered at $172-$174 per tonne including cost and freight.
Activity on the market has increased in the last few weeks with buyers keen to replenish their stockpiles and anxious to make bookings ahead of a widely-anticipated supply crunch in the first quarter of 2011.
It is being heard that global mining giant Rio Tinto would increase contract prices by 7.6 percent in the New Year.
After a lull in October, Chinese iron ore imports reached 57.38 million tonnes in November, up 25.5 percent on the month.
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