The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) traded 0.77% higher at 716 yuan ($99.91) a metric ton, as of 0357 GMT.
The benchmark August iron ore on the Singapore Exchange was up 0.86% at $94 a ton. On the supply front, iron ore shipments from top producers Australia and Brazil have declined, and global iron ore shipments decreased slightly, broker Everbright Futures said in a note.
Hot metal output, a gauge of iron ore demand, continued to increase month-on-month, Everbright said.
China’s factory activity returned to expansion in June, with official PMI and Caixin PMI data showing the highest output reading since November 2024.
