According to Metal Bulletin, the spot price for benchmark 62% iron ore fines slumped 2.3% to $106.11 a tonne, its largest one-day percentage decline in over two months.
The benchmark previously closed at the highest level since April 2014 on Monday, having rallied 70% since late November last year.Higher grades also succumbed to gravity with 65% fines skidding 1.5% to $121.60 a tonne, pulling back from the multi-year high hit a session earlier.
In to the performance from mid and higher grades, the price for 58% fines continued to rally, lifting by another 1% to a fresh five-year high of $91.32 a tonne.
According to Metal Bulletin, the spot price for benchmark 62%...
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