Iron ore prices have jumped almost 10 per cent, just a day after plunging to a 10-year low.
Chinese iron ore prices climbed 9.9 per cent to $US48.99 a tonne on Thursday night (AEST), regaining virtually all the ground lost on Wednesday when prices dived 10 per cent to $US44.10 a tonne.
It also ends a 10-session losing streak for the commodity, which has fallen from $US62 a tonne since June 26.
The slide has coincided with a massive fall on China's share markets, which have lost more than 30 per cent in less than a month.
Chinese government efforts to stem the bleeding appears to have gained some traction with the Shanghai Composite Index lifting more than 5.7 per cent.
Beijing has suspended trading in more than half of all listed companies and barred major state-owned enterprises from trading shares in their subsidiaries as the government tries to stabilise the market and lift investor confidence.
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