Australian iron ore producers gained on Monday after the price of the steel ingredient rose in China on Friday.

Rio Tinto was among the best performers on the benchmark S&P/ASX 200 index, gaining 2.6 per cent, while Fortescue Metals Group was up 2.3 per cent. Miner BHP Billiton rose 2.1 per cent.

The price of iron ore with 62 per cent iron content delivered to Qingdao rose 4.1 per cent to $62.53 a tonne on Friday.

The benchmark S&P/ASX 200 was up 0.7 per cent at its highest level since mid-June.

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