In the beginning of February, Australian Fortescue Metals Group Limited (FMG) said that the iron ore market has reached to the bottom due to the warming-up demand from China steelmakers.

Mr. Graeme Rowley, ED of FMG said that FMG has had order books full all the way through to March, which could be evidence that the market has reached the bottom of the depressed state. And the average price of the order FMG received is AU$96.63/ton in December quarter, which was 9 percent higher than that of September quarter.

Last month, Australia’s Atlas Iron Limited expected the market’s bottom to be reached after China’s stimulus package, in the same time, Taiwan’s China Steel Corporation was also forecasting a rebound of iron ore market.