Iron ore price rebounds amid talk of easing curbs in Tangshan
Chinese rebar and hot-rolled coil futures also jumped after the market recorded heavy losses over the past few weeks following the government's vow to stabilise commodity prices.
Africa Finance Corporation has already expanded its debt or equity funding for resources projects from oil into mines, including bauxite scheme in Guinea.
The most active rebar on the Shanghai Futures Exchange climbed 2.6 percent a tonne by the close, posting its biggest daily gain in more than two months.
With some vessels waiting to load coal and iron ore outside Australian ports for over a month, key charter rates jumped to highest in more than three years.