Iron ore rises back above $100 as China steps in to ease property woes

July 18 (Reuters) - Dalian and Singapore iron ore futures bounced back above the $100 mark on Monday, as top steel producer China sought to ease concerns over financial distress facing its property sector, but persistent COVID-19 worries limited gains.

The steelmaking ingredient's front-month August contract on the Singapore Exchange SZZFQ2 was up 3.7% at $100.05 a tonne, as of 0700 GMT, rebounding from an eight-month low of $96 hit on Friday.

On China's Dalian Commodity Exchange, the most-traded September iron ore contract DCIOcv1 ended daytime trade 2.2% higher at 679 yuan ($100.63) a tonne, after earlier touching a seven-month low of 638.50 yuan.

Other commodities in China's ferrous complex also rebounded from recent selloffs, with construction steel rebar on the Shanghai Futures Exchange SRBcv1 up 2.1% and hot-rolled coil SHHCcv1 climbing 3.1%. Stainless steel SHSScv1 gained 0.2%.

Dalian coking coal DJMcv1 rose 3.6% and coke DCJcv1 advanced 3.3%.