The most actively traded January 2016 iron ore contract on the Dalian Commodities Exchange is currently sitting at just 327.5 yuan, the lowest level on record.
It’s fallen 2.82%, extending this years slide to 38.6%.
Overnight the spot price for benchmark 62% fines rose by 77 cents, or 1.69%, to $46.35 a tonne according to data supplied by Metal Bulletin.
Thursday’s spot price fixing will be released at 10pm AEST.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.