Spot iron ore prices likely to stay strong post Chinese national holiday said market traders. Iron ore in swap market performed well on market's anticipation that steel mills will run out of stock and re-stocking will further take place post holidays.
On Thursday, the average bid for the fourth-quarter swaps was at $112.50, traders said, above Thursday's average settlement of $111.31, which shows that market is bullish and waiting for Chinese buyers come back to market on 8th Oct 2012.
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