CHART: Iron ore futures are getting destroyed

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.

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