Chinese iron ore futures surged as much as 5 percent to hit a 14-month peak on Monday
amid rising demand as steel mills in the world's top consumer of the steelmaking raw
material are picking up production.
The May contract, the most active iron ore future on the Dalian Commodity Exchange, hit anintra-day high of 454 yuan($69.92) a tonne, its highest since Jan. 16, 2015. It cut
gains to trade at 441.5 yuan a tonne by the midday break.
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