Iron ore prices increase in China

Chinese steel mills and traders have been accelerating their iron ore purchases with the belief that iron ore market, which had been trending downward for a while, has reversed its trend. Therefore, improved demand has pushed up the prices of iron ore. Current prices are as follows:
 
SteelOrbis has learned from market sources that the price for Australian PB fines with 61.5 percent iron content is at $109-110/mt CFR, while the price of Indian fines with 63-63.5 percent iron content is at $111-113/mt CFR. In the meantime, the current price of Brazilian Carajas fines with 66 percent iron content is $120-122/mt CFR. All above price ranges have indicated an increase of $11-13/mt as compared to last week.