MySteel 62% iron ore fines were up 2.9% to $177.50 per tonne.
Vale shares (BZ: VALE3) reached an all-time high of BRL109.11 intraday on Friday.
In Australia, the S&P/ASX 200 looks set for a positive day as the index nears last year's record high of almost 7,200 reached in February last year.
"In equity land, the AUS200 looks hot too, with eyes on a move towards 7100," Pepperstone head of research Chris Weston said.
It follows a record-setting Friday on Wall Street, where the Dow broke through 34,000 for the first time and the S&P 500 gained 1.1% to close at a new high of 4,170.42.
US and UK market futures were lower but Toronto and Europe were looking up.
In Toronto, Yellowknife-focused junior Norse Gold (NEX: VKG.H) rose 35.7% on no news.
Dual-listed RTG Mining (TSX: RTG) shot up 25% in Toronto on noting a nine-year ban on granting new mining agreements had been lifted in the Philippines, where it's making "solid progress" on its Mabilo copper-gold project.
RTG said the development was a show of support for the mining industry.
Finally, Glencore closed up 0.25% in London amid news proxy adviser Glass Lewis, one of its key shareholders, was urging investors to vote against incoming CEO Gary Nagle's proposed remuneration package of up to $10.4 million.
