Shares of Mineral Resources (ASX:MIN), Fortescue (ASX:FMG), and Champion Iron (ASX:CIA) each fell around 1% in recent Tuesday trade, after reports emerged on Monday that several Chinese steel mills will temporarily halt production from Aug. 25 due to air pollution controls ahead of a major military parade on Sept. 3, fueling optimism over tighter supply and improved demand prospects.
Iron ore prices climbed up to 1.6% in Singapore, supported by China's easing of property purchase restrictions in Beijing, which could boost future demand.
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