Backed by expectations of a new wave of replenishment by steelmakers in China, the largest consumer country, prices iron ore futures rose on Monday.

The most traded iron ore contract in May on the Chinese Commodity Exchange in Dalian (DCE) ended the morning up 0.97% to 781 yuan (107.01 dollars) per metric ton. Crude oil hit the lowest level since November 19, at 762.5 yuan per ton, earlier in the session. After touching the lowest level since November 19 at $99.8 earlier, January's reference iron ore prices on the Singapore Exchange were up 0.96% to $101.6 per ton at 03:26 GMT. Analysts at Maike Futures in a note said that “although liquid metal production has shown signs of slowing, the profitability of steelmakers has stabilized... steel mills continue to replenish