The price of iron ore has fallen for a third straight day as investors fret about Chinese economic growth.

At the end of the latest session, benchmark iron ore for immediate delivery to the port of Tianjin in China was trading at $US56.00 a tonne, down 0.7 per cent from $US56.40 a tonne in the prior session.

The commodity has lost over 4 per cent through the past three days, falling well away from a two-month high as traders point to concerns around Chinese demand.

However, iron ore bucked the trend among commodities in the latest session as base metals in London rose and crude prices soared on a weaker US dollar and after Shanghai stocks recovered 4.9 per cent.

The positive sentiment may have come too late to guide the latest session in iron ore, with miners hoping the losing run can be halted in the upcoming session ahead of a closely-watched US Federal Reserve policy update.