Iron ore prices slightly rose, reflecting market optimism about a post-holiday recovery in China's steel industry. Futures contracts on the Singapore Exchange posted modest increases, with the 62% grade rising by approximately 0.2%. The 65% and 58% grades also had increases of around 0.19% and 0.24% respectively.

The market expects that Chinese steel mills will soon resume restocking raw material inventories, leading to a pickup in demand after the National Day holiday. This expected return to active spot trading and increased steel mill utilization, starting around October 9, is currently arousing a positive sentiment in the derivatives market. Port inventories could tighten in the short term as mills begin to replenish their supplies.