Record iron ore sales to China are unexpectedly seen to extend the bull market as estimators from Morgan Stanley to the World Bank feel encouraged to increase price predictions.

The world’s biggest iron-ore export terminal, Australia’s Port Hedland, has increased shipments to China by 43 percent to record levels last month, port data show. September saw the Asian country importing the largest ever quantities of ors, according to customs data. Standard Bank Group Ltd. and the Bureau of Resources and Energy Economics, Australia’s state forecaster, also raised price estimates in the past several weeks.

With data showing Asia’s largest economy accelerating, prices rallied to a two-month high in China last week. Despite higher productions level with Australian producers expanding supply to move into surplus next year for the first time since 2010, no excesses are expected to be stored up until the second half of the year. Iron ore is the biggest source of revenue for Rio Tinto Group, BHP Billiton Ltd. and Vale SA and the largest seaborne commodity cargo after crude oil.