July 25 (Reuters) - Iron ore futures soared on Monday, extending a rally spurred by hopes of an economic rebound for top steel producer and consumer China in the third quarter, and support for the country's troubled property sector.The most-traded iron ore, for September delivery, on China's Dalian Commodity Exchange DCIOcv1 ended daytime trade 7.1% higher at 711 yuan ($105.27) a tonne, after earlier hitting 723.50 yuan, its strongest level since July 14.Iron ore's front-month August contract on the Singapore Exchange SZZFQ2 was up 2.2% at $105.40 a tonne, as of 0702 GMT, after lodging its first weekly gain in three weeks on Friday.Dalian coking coal DJMcv1 rose 3.3% and coke DCJcv1 advanced 2.9%.China will make great efforts to consolidate its economic recovery particularly in the crucial third quarter, putting a priority on stabilising employment and prices, state media reported on Friday after a regular cabinet meeting.The market is looking forward to the economy (rebounding) in the third quarter, analysts at Zhongzhou Futures said in a note.
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futures looking good
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