Deutsche Bank AG said that prices for iron ore delivered to China, unchanged over the past week as the country began a weeklong break yesterday to celebrate the Lunar New Year, may gather pace after the holiday.

Mr Thomas Baldwin an iron ore, freight and steel trader with Deutsche Bank in London said that “Iron ore spot trading activity is likely to be quiet during the Chinese New Year holiday period.”

He said that prices may rise toward records after the break when Chinese steel mills restock iron ore.

(Sourced from Bloomberg)