Backed by hopes of a further extension of the tariff truce between the world's two largest economies, iron ore futures prices rose on Wednesday.

The most traded iron ore contract in September on the Chinese commodity exchange in Dalian (DCE) rose by 0.69% to 798 yuan ($111.23) per metric ton at 02:11 GMT.

The reference price of iron ore in September on the Singapore Stock Exchange was up 0.16% to 102.9 dollars per ton at 02:05 GMT.

The rise in iron ore prices has been limited by concerns that Beijing will not unveil more stimulus measures at a Politburo meeting by the end of July, which is expected to define the country's economic policies for the rest of the year.

Rebar grew by 1.48%, hot-rolled coils increased by 2.11%, wire rod grew by 1.62%, and stainless steel grew by 0.58%.