Dalian iron ore hit a record high on Friday, boosted by robust demand in China and supply concerns fuelled by disappointing forecasts by Brazilian miner Vale SA.
Australian shares are set to open higher on Monday, likely helped by the country's heavyweight mining stocks on the back of strong iron ore prices.
Dalian iron ore hit a record high on Friday, boosted by robust demand in China and supply concerns fuelled by disappointing forecasts by Brazilian miner Vale SA.
The local share price index futures rose 0.6%, a 47.9-point premium to the underlying S&P/ASX 200 index close. The benchmark ended 0.3% higher on Friday.
New Zealand's benchmark S&P/NZX 50 index rose 0.8% in early trade.
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