Iron ore futures have progressed on Tuesday. The proposed cuts in Chinese port fees are which are supposed to discourage long-term stock building and the weakness of American dollar that supported investor morale.

The most traded iron ore contract in January on the Dalian Commodity Exchange (DCE) in China gained 1.08% for reach 798.5 yuan (112.54 USD) per metric ton at 03:28 GMT.

The reference price of iron ore for Delivery in December on the Singapore Stock Exchange rose by 0.92% to 10.6% American dollars per ton. China has proposed to reduce duties ports for public companies holding cargoes for less for 30 days. According to ANZ analysts, this measure would discourage building long-term stocks and would accelerate inventory turnover, this which could reduce the cash supply during periods of replenishment.