Reuters reports that spot iron ore prices are expected to bounce back to near five-month highs above $140 a tonne this week

Reuters reports that spot iron ore prices are expected to bounce back to near five-month highs above $140 a tonne this week. Prices will be supported by likely brisk steel demand in top consumer China. Shanghai steel futures hit a 1-1/2-week high on Monday as signs of a stabilising Chinese economy strengthened hopes for steel consumption, which seasonally peaks in September and October along with construction activity.