Iron Ore-Spot prices may sustain gains on Chinese restocking

Reuters Africa reports spot iron ore prices are likely to build on last week’s more than 4 percent gain as Chinese buyers replenish stocks.

The market news is quoted as saying,

Most iron ore indexes, based on spot transactions in China and used by global miners in setting quarterly contracts, rose to near one-month highs last week as Chinese steel mills, the biggest buyers of iron ore, returned to the market to boost run-down inventories.