SHANGHAI Feb 16 (Reuters) - Key global iron ore indexes extended gains to record highs on Tuesday as spot offers stayed firm around $200 per tonne, while surging prices triggered caution among Chinese steel mills this week.
Restocking by domestic steelmakers after the week-long Lunar New Year holiday in early February sent iron ore prices 5 percent higher from the end of January, boosting three major iron ore indexes to new highs on Tuesday.
Metal Bulletin's 62 percent iron ore index .IO62-CNO=MB gained $1.59 to $190.87 per tonne, cost and freight delivered to China.
Platts' 62 percent gauge IODBZ00-PLT rose 50 cents to $193 per tonne, and Steel Index 62 percent benchmark .IO62-CNI=SI edged up $1.10 to $190.6.
However, sharp gains in iron ore import prices have reduced the eagerness of steel mills to restock, leading to a slowdown in trading among steel mills and local traders.
Steel prices in the domestic market fell on Wednesday from sharp gains over the past few days, despite major mills lifting main product prices for March to reflect surging raw materials costs and a positive outlook for demand.
The most active October rebar futures on the Shanghai Futures Exchange SRBV1 fell to 5,102 yuan per tonne by 0214 GMT, down 1 percent from the previous close. (Reporting by Ruby Lian and David Stanway; Editing by Chris Lewis)
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