Iron ore futures rebound as bargain hunting supports

Iron ore futures rose on Wednesday in a bargain-buying bounce from a slump in previous sessions after investors stayed on the sidelines following China's state planner's decision to clamp down on excessive market speculation.

The most-traded May iron ore on China's Dalian Commodity Exchange ended day-time trade 0.9 per cent higher at 841.5 yuan ($124.27) a tonne.

On the Singapore Exchange, the benchmark February iron ore was up 0.7 per cent at $121.40 a tonne, as of 0703 GMT.

China's state planner issued on Wednesday its third warning this month against excessive speculation in iron ore, adding that it will increase supervision of the country's spot and futures markets.