Spot prices of iron ore with 63.5% iron content for delivery to Tianjin traded at $130 a tonne at the end of January after rising as high as $133 last week, the strongest level since September 7th. Investors turned cautious amid prospects of tighter steel production controls in the coming weeks ahead of the Spring Festival holidays and Beijing Winter Olympic Games, while expectations that China's central bank will be providing more stimulus to support the economy boosted hopes of a pickup in demand for metals in coming months. The People's Bank of China cut the 14-day reverse repo rate on January 24th, after lowering a slew of key short- and medium-term rates last week

_{Iron Ore (USD/T) 130.00  -3 (-2.26%)}

Iron ore prices refer to Iron Ore Fine China Import 63.5 percent grade Spot Cost and Freight for the delivery at the Chinese port of Tianjin. Is used to make steel for infrastructure and other construction projects. The biggest producers of iron ore are China, Australia and Brazil. Others include India, Russia, Ukraine and South Africa