Spot iron ore prices continued their climb for 6th consecutive day gaining almost USD 3 per tonne and nudged past USD 141 per tonne CFR China as the recovery in Chinese domestic market continued making steel mills rushing to secure iron ore

According to data provider Steel Index, 62% iron ore to reach USD 141.80, the highest level since March 12 and is just 12 per cent below its one year high of $US158.90 a tonne in February 2013.

Some physical transactions for 63% ore are also reported at USD 143.5 per tonne. Chinese steel mills and traders continued re stocking and stockpiles remained at a relatively tight 20 days of supply for steelmakers.