Dalian iron ore down as much as 2.2% in early trade Spot 62%...

• Dalian iron ore down as much as 2.2% in early trade
• Spot 62% iron ore unchanged at $90 per tonne
• Rio Tinto invests in Pilbara iron ore mine

BEIJING, Nov 27 (Reuters) - Benchmark Dalian iron ore prices faltered in early trade on Wednesday, extending losses into the second session, amid stable supply outlook while demand for the steelmaking ingredient cooled in other countries.

The most-actively traded iron ore futures on the Dalian Commodity Exchange DCIOcv1 , for January 2020 delivery, dived as much as 2.2% to 641 yuan ($91.07) per tonne. It declined 2.0% to 643 yuan by 0230 GMT.

"Current iron ore market in China is oversupply," said a Shanghai-based trader. "Steel sectors in other countries are not performing very well, which transfer part of overseas supply to China."

With the maintenance at Australian ports coming to an end, shipments from big miners are also normalizing, Huatai Futures wrote in a note.

The most-traded construction steel rebar on the Shanghai Futures Exchange SRBcv1 fell 0.9% to 3,607 yuan per tonne.

Hot-rolled coil SHHCcv1 , used for cars and home appliances, dipped 0.5% to 3,521 yuan a tonne.

FUNDAMENTALS

• Shanghai stainless steel futures SHSSc1 , for February 2020 delivery, declined 1.1% to 14,290 yuan per tonne.
• Other steelmaking raw materials mixed, with Dalian coking coal DJMcv1 , for January delivery, down 0.7% at 1,232 yuan a tonne, while Dalian coke DCJcv1 edged up 0.2% to 1,875 yuan.
• Rio Tinto Ltd (RIO) said on Wednesday it had approved a $749 million investment in its Greater Tom Price operations to help sustain production capacity in its iron ore business in the Pilbara region of Western Australia.
• The European Commission opened an investigation on Tuesday after finding evidence that Chinese steel producers are avoiding anti-dumping duties by slightly modifying the material they export.
• Profits at China's industrial firms declined in annual terms for the third consecutive month in October, tracking sustained drops in producer prices and exports and underscoring slowing momentum in the world's second-largest economy.

($1 = 7.0389 Chinese yuan renminbi)