Iron ore prices rose slightly to maintain levels above US$97, with Australia's 62% Fe grade iron ore fines delivered to China settling at US$97.3 per ton. The weekly increase reached 1.25%, ending a three-week declining streak, though year-to-date losses were at 8.6%.

Stimulus expectations from China's central bank monetary easing, combined with recovering steel production, improved demand, high maritime shipping expenses, and surging coking coal futures driven by mine safety inspections, supported the iron ore price recovery.

Despite typhoon-related drops in port arrivals, high port inventories and weak steelmaker profit margins point toward short-term narrow fluctuations.