Comparison of 62% Fe fines imported into northern China rose 0.3% to $136.15 per tonne.
Chinese iron ore futures touched 900 yuan ($135.00) per ton for the first time in nearly six weeks and posted 2.6 percent monthly gains.
Officials in Shanghai announced the end of the two-month quarantine on Monday. The city will transition into a normalized outbreak control phase from Wednesday, allowing stores to reopen and people in "low risk" areas to return to work.
Development could increase sub-consumption, which has been halted for months due to the recent covid-19 pandemic and frustrated metal producers as they are unable to take advantage of the traditional peak season for construction projects.
China's factory activity fell more slowly in May than in the previous month, though economic growth in the second quarter is still questionable.
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