For the first time in four sessions the spot iron ore price has fallen.
According to Metal Bulletin’s iron ore index the spot price for 62% fines fell 24c, or 0.48%, to $50.06 a tonne on Tuesday.
Since hitting a record low of $44.59 on Wednesday last week the price is still up by an impressive 12.27%.
The decline on Tuesday coincided with a fall in large-cap Chinese stocks, which had risen in unison along with the iron ore price.
Overnight Dalian futures were flat, offering no clue as to what to expect from the spot price movement this evening.