Iron ore futures rebound as bargain hunting supports

Jan 18 (Reuters) - 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% higher at 841.5 yuan ($124.27) a tonne.

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