The iron ore price continued its recovery

For a second straight day the iron ore price has moved higher.

According to Metal Bulletin, the spot price for benchmark 62% ore rose by 22 cents, or 0.41%, to $53.67 a tonne.

Year-to-date it has fallen 24.7%.

While the spot price moved higher, Chinese futures did not.

The most actively traded January 2016 contract on the Dalian commodities exchange fell by 2.5 yuan to 364 yuan.

If sustained today, it suggests the spot price may ease lower this evening.

The day session in Dalian begins at 11am AEST.

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