Iron-ore subdued on China demand concerns

Iron ore's front-month September contract on the Singapore Exchange SZZFU2 was down 0.3% at $105.65 a tonne, as of 0749 GMT, reversing earlier gains.

The most-traded iron ore, for delivery in January 2023, on China's Dalian Commodity Exchange DCIOcv1 ended daytime trade 0.3% lower at 720.50 yuan ($106.06) a tonne.

Earlier in the session, the steelmaking ingredient was buoyed by news of further government support for Chinese property developers hit by a financial crisis and prospects of accelerated infrastructure projects in China. 

Chinese regulators have instructed state-owned China Bond Insurance Co. Ltd. to provide guarantees for onshore bond issuance by some private property developers, according to Reuters sources.