The bulls are back in charge of iron ore prices

Iron ore prices are gathering steam as confidence over the outlook for China's steel demand increases, outweighing bearish factors such as potential winter production curbs and India lowering iron ore export taxes.

The price of spot 62% iron ore for delivery to north China , as assessed by commodity price reporting agency Argus, rose to $99.50 a tonne on Nov. 18, close to the $100 level last seen on Sept. 15.