The most-traded iron ore contract on the Dalian Commodity Exchange rose 0.6% to CNY716.0 a ton in early Asian trading. Baocheng Futures said high shipment fees were supporting prices, but weak demand and high supply were likely to keep the market rangebound at relatively low levels in the near term. Earlier support for Chinese iron ore had also come from concerns about Brazilian supply disruptions, higher freight costs and possible steel-mill restocking before the extended Golden Week holiday. The market remains pressured by weak Chinese steel-mill profitability, elevated coking coal prices and softer construction and manufacturing demand.