Iron ore price still stuck at 6-month high

BEIJING - The price of imported iron ore remained high in China on Wednesday amid declining supplies from India - the world's third-largest ore exporter - and rising spot steel prices.

Indian ore with 63.5 percent ore content remained at $172 a ton - including shipping - on Wednesday after hitting that six-month peak on Tuesday.

Shanghai rebar futures regained 1.6 percent this week to reach 4,540 yuan ($685) a ton on Wednesday, after falling to a three-week low on concerns that China would raise the interest rate.