Jan 18 Reuters Iron ore futures rose on Wednesday in a bargainbuying bounce from a slump in previous sessions after investors stayed on the sidelines following China39;s state planner39;s decision to clamp down on excessive market speculation.

The mosttraded May iron ore on China39;s Dalian Commodity Exchange ended daytime trade 0.9 higher at 841.5 yuan 124.27 a tonne.

On the Singapore Exchange, the benchmark February iron ore was up 0.7 at 121.40 a tonne, as of 0703 GMT.

China39;s state planner issued on Wednesday its third warning this month against excessive speculation in iron ore, adding that it will increase supervision of the country39;s spot and futures markets.

The outcome of Tuesday39;s meeting lacked any real teeth, so markets have assimilated it and moved on. In fact, some traders are using these events as a buy the dip opportunity, said Atilla Widnell, managing director of Navigate Commodities.

China39;s property sector fell 5.1 in 2022 from a year earlier, valueadded data from the National Bureau of Statistics NBS showed on Wednesday, heaping more pressure on policymakers to revive the sluggish sector in 2023.

Brazil39;s CSN Mineracao SA said on Tuesday it has reached a deal for a longterm supply of iron ore to Swiss trader Glencore.

The mostactive rebar contract on the Shanghai Futures Exchange climbed 1.5, hotrolled coil rose 1.5, wire rod edged 0.9 higher, and stainless steel gained 0.4.

During 2023, crude steel production will continue to be…