The seaborne Iron Ore market has hit at $81.65/dmt, which is the highest so far this year. A rise in steel billet price buoyed sentiment the outlook for Iron Ore and lead the prices to the level, according to platts. 
It has been assessed by Platts that the 62% Fe Iron Ore Index at a year-to-date high of $81.65/dry mt CFR North China Monday, up $1.30 from Friday. 
In Tangshan, the spot price of square billet surged Yuan 100 from Friday at Yuan 2,730/mt ($395.41/mt) ex-stock Tangshan Monday. The front month December IODEX swap rose $1.1/dmt to Friday at $78.05/dmt Monday, as per platts report.