But global economic uncertainties and production
restrictions at home, along with Chinese regulators' warnings
against excessive price speculation, curbed gains.
The most-traded May iron ore on China's Dalian Commodity
Exchange ended morning trade 1.3% higher at 908 yuan
($132.46) a tonne, with a quarterly gain of more than 6%.
On the Singapore Exchange, benchmark May iron ore edged up 0.1% to $125.50 a tonne, and stretching its quarterly
gain to more than 10%.
"Iron ore prices continue to be up on signs of tighter
supply ahead of rising seasonal demand into China's peak
construction period," National Australia Bank analysts said in a
note.
But the strength in Chinese iron ore demand may wane in the
second half of the year, with China aiming to again reduce crude
steel output this year in line with its carbon emission
reduction goal, analysts said.
China's economic rebound also seems to be fragile.
"China's recovery is underway but appears uneven, with
infrastructure and manufacturing outperforming property and
consumption," Citi analysts said in a note.
Rebar on the Shanghai Futures Exchange rose 0.7%,
hot-rolled coil gained 0.9%, and wire rod added 0.1%, while stainless steel dipped 0.8%.
On the Dalian exchange, coking coal rose 1.5% and coke advanced 2.4%. (Reporting by Enrico Dela Cruz in Manila)
