It touched the highest level since July 25 at 814 yuan earlier in the session.
The benchmark October iron ore SZZFV5 on the Singapore Exchange was 1.64% higher at $107.15 a ton, as of 08:00 GMT. The contract hit its highest level since February 25 at $107.65 earlier.
Miner Rio Tito could be forced to build a refinery for the Simandou ore project in Guinea, Australia's Financial Review reported on Sunday.
The giant iron ore project, with an annual production capacity of 120-million metric tons and first shipment expected in November, was seen weighing on prices in the coming years.
But the Guinea government's intention to process ore locally may reduce the availability of ore being exported, supporting prices, said one analyst and one trader.
Focus is also on the pace of production resumption in the peak season in China and the corresponding restocking needs for raw materials, analysts at broker Shengda Futures said.
