The most-traded May iron ore on China’s Dalian Commodity Exchange (DCE) climbed 1.35% to 938 yuan ($131.49) a metric ton, as of 0210 GMT.
The benchmark January iron ore on the Singapore Exchange was up 1.31% at $134.05 a ton, as of 0246 GMT.
Prices of the front month contracts gained support as it approached to settlement for the January delivery cargoes while traders faced limits in trading volumes, analysts at Sinosteel said in a note.
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
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