While Chinese stocks were thumped yesterday, there was one asset that managed to buck the trend – the iron ore price.
The spot price for 62% fines rose by 93c, or 1.81%, to $52.35 a tonne, according to Metal Bulletin’s iron ore index.
While the spot price bounced handsomely, Chinese iron ore futures were weaker overnight with the benchmark January 2016 contract on the Dalian commodities exchange falling 0.71% to 350.5 yuan.
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