Iron ore finished last week lower

AUCKLAND, NEW ZEALAND – FEBRUARY 23: People enjoy the muddy thrills and spills on a waterslide dug into a hillside in Waimauku on February 23, 2013 in Auckland, New Zealand. Only 2000 people will have the honour of riding the water slides, with one measuring 650 meters long built by New Zealanders Jimi Hunt and Dan Drupstee, of the ‘Live more Awesome’ charity this weekend. The world’s longest slide will be open for only two days to raise funds and awareness of depression. (Photo by Phil Walter/Getty Images)

The spot iron ore price slipped on Friday with benchmark 62% fines falling 28 cents, or 0.49%, to $56.74 a tonne according to Metal Bulletin.

On Thursday it jumped by 1.26%, taking the spot price for benchmark 62% grade ore to a six-week high of $57.02 a tonne.

In futures trade on Friday evening, the most actively traded January 2016 contract on the Dalian commodities exchange rose by one yuan, or 0.26%, to 386 yuan.

Trade in Dalian will resume this morning at 11am AEST.

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