BEIJING: Dalian and Singapore iron ore futures climbed to their highest levels in more than three weeks on Wednesday, extending gains for a third consecutive day on hopes of improving demand after some mills resume production.

The most-traded September iron ore futures contract on the Dalian Commodity Exchange (DCE) was traded 1.45% higher at 736.5 yuan ($106.55) a tonne, as of 0315 GMT, the highest since April 21. The benchmark June iron ore on the Singapore Exchange was up 0.68% at $105.75 a tonne, its highest since April 21. Some mills will restart operations as margins improved, and they will restock raw materials including iron ore to meet production needs, said a Shanghai-based ferrous market analyst, who requested anonymity as he was not authorised to speak to media.