* Dalian iron ore gives up morning gains
* Spot 62% iron ore steady at $86.50 a tonne
* Samarco wins permission to resume operations (Adds details; updates closing prices)
BEIJING, Oct 28 (Reuters) - China's Dalian iron ore futures eased for the first time in five sessions on Monday after a mining joint venture between Vale SA VALE3.SA and BHP Group BHP.AX in Brazil won permission to resume operations suspended after a 2015 dam collapse.
The environmental regulator of the Brazilian state of Minas Gerais said late last week it had given the project the green light to restart. most-active traded iron ore futures on the Dalian Commodity Exchange DCIOcv1 , for January delivery, gave up early gains to inch down 0.1% to 627 yuan ($88.77) a tonne on Monday.
But Darren Toh, data scientist at Singapore-based steel and iron data analytics company Tivlon Technologies, said he remained bullish on iron ore.
Steel inventory is easing and the pace of infrastructure projects is accelerating, said Toh, adding that increasing property investment was also being seen.
FUNDAMENTALS
* Benchmark spot 62% iron ore for delivery to China stood at $86.50 a tonne on Friday. SH-CCN-IRNOR62
* The most traded construction steel rebar futures contract on the Shanghai Futures Exchange SRBcv1 , for January delivery, rose 0.2% to 3,327 yuan a tonne.
* Hot-rolled coil SHHCcv1 , used in cars and home appliances, closed down 0.1% at 3,341 yuan.
* Stainless steel SHSSc1 , made from nickel pig iron, rose 0.5% to 15,005 tonne.
* Other steelmaking ingredients also fell, with Dalian coking coal DJMcv1 dipping 0.7% to 1,248 yuan and Dalian coke DCJcv1 down 1.8% at 1,748 yuan a tonne.
* The U.S. Trade Representative's office and China's Commerce Ministry said both sides are "close to finalising" some parts of a trade agreement after high-level telephone discussions on Friday, and would continue to talk. Profits at China's industrial firms contracted for a second straight month in September as producer prices continued their slide, highlighting the toll a slowing economy and protracted U.S. trade war are having taken on corporate balance sheets. China's Commerce Ministry said the third Global Forum on Steel Excess Capacity Ministerial Meeting was held in Tokyo on Oct. 26. The Ministerial meeting did not reach a consensus on the extension of the forum, which will end as its duration expires this year. (