Global iron ore prices were expected to rise by about 10 percent next year as demand increases, according to Businessday.

Due to global economic downturns earlier this year, lump ore and fine ore fall dramatically by 32 percent and 45 percent respectively.

Currently global market has gradually started to recover as consumers demand around the world raises. Therefore, industry players and analysts predict steel prices will rise by up to 10 percent next year possibly.

Source: yieh.com