This Monday, the iron ore futures prices of Dalian rose for the fifth consecutive session. The resumption of steel mill profitability has boosted the demand and shortage of ore fines of Pilbara Blend type iron having reduced the supply.

The most traded iron ore contract in May on the Dalian Commodity Exchange (DCE) in China rose 0.26% to reach 779 yuan ($110.65) per metric ton at 02:49 GMT.

The reference price of iron ore for January delivery on the Singapore Stock Exchange fell by 0.38% to 104.3 dollars per ton. The profitability of steel mills has gradually recovered, some having resumed production, according to the Chinese broker Everbright Futures.

The structural shortage of iron ore fines Pilbara Blend type remains unresolved, supporting iron ore prices and contributing to the support of steel production costs, said the Galaxy Futures analysts.

The rise in iron ore prices in recent years years has accelerated global investments in new capabilities mining, propelling the global iron ore market into a phase decisive for expanding the offer, said the consulting firm Mysteel.

Total iron ore stocks in ports Chinese increased by 1.19% week over week to around 145.5 million tons as of December 19, according to SteelHome data.

The reference courses of steel prices at the Shanghai Futures Exchange have advanced. The price of bars reinforcement increased by 0.16%, that of hot-rolled coils by 0.18%, that of wire rod of 0.53% and that of stainless steel of 1.39%