Iron ore price charts for January 24, 2017:
Tianjin benchmark lifted 55 cents to $74.25. Paper was firm overnight. Steel yesterday. CISA early January output for major mills was high at the better part of 1.8mt per day. If there is a Winter shutdown still on then it is not apparent in these figures which again suggest that once Q1 passes, steel prices will fall. Texture from Reuters:
Top iron ore producer Vale has said it expects output to rise to 390 million tonnes this year from 365 million tonnes in 2017, helped by a ramp-up at its S11D mining project.
