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0155 GMT - Iron ore prices rise in early Asian trading hours after a prolonged selloff, easing some market concerns over downside risks, Everbright Futures analysts write in a note. Port inventories and seaborne supply remain elevated, however, while demand growth appears to have peaked, limiting the scope for a sustained rebound, they say. Modest decline in domestic production of iron ore concentrate has done little to offset abundant supply and rising inventories, they add. While fundamentals still point to a well-supplied market, iron ore prices are likely to remain range-bound in the near term despite the latest recovery, they say. The most actively traded January iron ore contract on the Dalian Commodity Exchange is up 0.3% at 745.5 yuan a ton.(jiahui.huang@wsj.com; @ivy_jiahuihuang)

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