Iron ore climbed the most in seven months, trimming a quarterly drop, on speculation that China may speed up construction projects and take measures to counter slowing economic growth in the world’s largest buyer.

Benchmark iron ore for immediate delivery to the port of Tianjin in China was trading at USD 117.60 a tonne, a lift on the USD 116.80 price in the previous session.

It is learnt that Chinese government is under pressure to take steps to address weakening economic expansion amid deepening concern that the nation will miss its 7.5 percent growth target this year, the weakest annual pace since 1990. China will accelerate preliminary work and construction of key investment projects.

Steel producers are making a marked return to the market with an increased number of buying enquiries. Market got off to a healthy start this week with no less than five confirmed trades.