Steel prices in China posted mixed moves Tuesday, with the spot market rising and futures falling. Meanwhile, spot iron ore tags continue to move closer to peak summer levels.

Spot long and flat product prices got a boost from improving market sentiment, while futures tags were hurt by profit taking.

Spot hot-rolled coil reached 3,650 yuan ($535) per tonne Tuesday, up 30 yuan ($4.40) from the previous day, while Grade III rebar surged to 3,760 to 3,770 yuan ($551 to $552) per tonne, up 50 to 60 yuan ($7.30 to $8.80) in the same comparison.

"More steel mills have followed step and raised list prices by 30 to 50 yuan per tonne in...