Fitting with the movements in Chinese futures on Wednesday, the iron ore price has fallen overnight.
According to Metal Bulletin, the spot price for benchmark 62% grade fines fell by 51 cents, or 0.90%, to $56.41 a tonne.
Year-to-date the price has fallen 20.8%.
Overnight the most actively traded January 2016 iron ore contract on the Dalian commodities exchange rose by 0.67% to 378 yuan. If sustained today, it points to the likelihood of a modest bounce in the spot price this evening.
Trade in Dalian will resume at 11am AEST.
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