Stimulated by the hope of an improvement in Demand in China, iron ore futures rose Wednesday to reach their highest level in several months.

The most traded May iron ore contract on the Dalian Commodity Exchange (DCE) in China closed the morning session in increased by 3.52% to 823.5 yuan (117.90 dollars) per metric ton, its level the highest since July 23.

The reference price of iron ore for February delivery on the Singapore Stock Exchange was up 1.67% at 108.25 dollars per ton at 03:22 GMT, after reaching its highest level since February 24 at 108.6 dollars earlier in the day.

Other steel-making ingredients on the DCE also saw a sharp rise, coking coal and coke increasing by 7.98% and 6.85% respectively.

The steel reference prices on the Stock Exchange Shanghai futures have advanced.

Rebar grew by 2.26%, hot rolled coils strengthened by 1.94%, the wire rod was firmed by 1.12% and stainless steel jumped by 4.39%.