Although fundamentals are still under pressure, iron ore prices are expected to record the biggest weekly increase since the beginning of May this week due to the upcoming strike action at BHP Billiton's Port Hedland terminal, which has raised concerns about supply.

Although fundamentals are still under pressure, iron ore prices are expected to record the biggest weekly increase since the beginning of May this week due to the upcoming strike action at BHP Billiton's Port Hedland terminal, which has raised concerns about supply.