Iron ore markets began the new trading week with a whimper with spot and futures prices doing next to nothing on Monday.
The spot price for 62% fines rose by a solidarity cent to $59.14 a tonne, according to Metal Bulletin, while Dalian iron ore futures finished the overnight session down 0.24% at 421.5 yuan.
Unusually quiet compared to what we’ve become accustomed to so far in 2016.
The one notable movement came from lower grade ore with the spot price for 58% fines sliding 2.42% to $47.15 a tonne, leaving it at the lowest level since early August.
Trade in Dalian futures will resume at 11am AEST.