Singapore futures rose as much as 1.6% to $110.25 a ton after China's markets reopened from a five-day holiday.
The move was driven by strong buying on China's domestic exchange as trading resumed, lifting prices for the steelmaking raw material.
The rally highlights China's influence on iron ore demand and pricing, with post-holiday trading activity quickly pushing the market to a seven-month high.
With new supply and falling energy costs, is China's demand surge enough to sustain record iron ore prices?
As a high-grade mine opens, will the steel industry choose green technology or simply feed China's continued industrial growth?