The ASX hit broke out of its multi-month trading range today as mining stocks sizzled on more indications that the Chinese economy remains robust.

The benchmark S&P/ASX 200 index advanced 33 points or 0.6 per cent to 5847, while the All Ordinaries index rose 32 points, 0.6 per cent, to 5917. Monday's gains extended a winning streak that started the Friday before last.

The ASX 200 has spent more than 100 sessions trapped between 5650 and 5850, but the benchmark measure pushed above that upper limit on Monday before settling slightly below.

"We have broken out of that trading range and that tells you the bulls are in control," IG strategist Chris Weston said The question now, Mr Weston said, was whether the sharemarket can push meaningfully higher from here.

"What is really important for global equities is that real [after inflation] bond yields don't go up too far."

Australian 10-year bond yields were trading at 2.75 per cent on Monday, around where they started the year.

On the ASX, resources jumped from the open and continued to rally through the day, with the sector buoyed by a sharp rise in the spot iron ore price on Friday night. Iron ore was at $US62.53 a tonne and Chinese iron ore futures were up another 2 per cent on Monday.

BHP added 2.2 per cent, while Rio Tinto climbed 3.4 per cent and Fortescue shares 1 per cent.

Outside the majors, gold miner Evolution advanced 1.8 per cent after telling the market it lifted production and cut costs in the September quarter.

OZ Minerals rose 1.5 per cent after revealing it would wait before striking deals for its two copper mines.

The move for iron ore followed data on Friday showing China's imports rose by a stronger-than-expected 18.7 per cent in September, with iron ore volumes hitting a record.

Another surprise for markets followed on Monday, when data showed producer prices jumped 6.9 per cent in September.

Adding to comfort around expectations for the Chinese economy, PBOC Governor Zhou Xiaochuan over the weekend gave an uncharacteristically explicit growth forecast.

"China's economic growth has slowed over the past few years...but economic growth has rebounded this year, with GDP reaching 6.9 percent in the first half, and may achieve 7 percent in the second half," Zhou was quoted as saying at the G30 International Banking Seminar in Washington.

In the energy sector, Origin Energy gained 2.5 per cent and Beach Energy jumped 5.5 per cent as crude oil prices rallied for a second session. Banks climbed as well, providing a solid foundation for the ASX's gains on Monday.

Shares in the listed sky diving group Skydive the Beach Group lost 7.7 per cent after a triple fatality on Friday at its Mission Beach operation.