Iron ore futures are sliding

Photo by Chris McGrath/Getty Images

Iron ore futures fell in overnight trade, giving back all of the gains achieved during Wednesday’s day session.

Here’s the final scoreboard from overnight:

SHFE Rebar ¥3,934 , 0.15%
DCE Iron Ore ¥555.00 , -0.63%
DCE Coking Coal ¥1,318.00 , 0.42%
DCE Coke ¥2,130.00 , 0.76%

The January 2017 iron ore contract in Dalian finished at 555 yuan, below the 566.5 yuan level it closed the previous session. Rebar futures in Shanghai also slipped, falling back from 4,006 yuan to 3,934 yuan.

Trade in Chinese commodity futures will resume at 11am AEST.

No spot pricing was available on Wednesday due to a public holiday in Singapore.

On Tuesday, the spot price for benchmark 62% fines fell 0.93% to $75.46 a tonne, according to Metal Bulletin, pulling back from a more than four-month high of $76.17 a tonne struck on Monday.