Iron ore futures closed higher on Monday at the Dalian Commodity Exchange (DCE).

The most active iron ore contract for May delivery gained 10 yuan (about 1.49 U.S. dollars)to close at 632.5 yuan per tonne.

On Monday, DCE recorded a total of 3,113,546 transactions in 11 listed iron ore futures contracts, with a turnover of 194.97 billion yuan.

As the world's largest importer of iron ore, China opened the DCE iron ore futures to international investors in May 2018.