Iron ore prices may rise further to reach $170/mt "over the next quarter" based on expected re-stocking activity in China and the possibility of rain affecting supply in Brazil over the next few weeks, Deutsche Bank said in a report Tuesday.

"We expect that spot iron ore prices may reach trading levels achieved in early 2011, or around $170/dmt," on a delivered China basis, the report said.

"In our view this would represent an overshoot of the seaborne iron ore market and likely representative of a temporary extreme in tightness as re-stocking occurs in China and supply growth remains somewhat subdued in the early part of 2013 from Australia/Brazil."

Spot iron ore prices rose further Tuesday, up $2.50 to $159/dmt CFR North China based on the Platts IODEX benchmark, reaching the highest in around 15 months.

Iron ore price's rise imposes iron ore industry, which in further way makes iron ore crusher sell good in a certain period of time.