Daily iron ore price update (Monorail!)

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No prices today with CNY. But Vale is out with a solid production report, from Bloomie:

Vale SA, the largest iron-ore producer, reported a 2.1 percent increase in fourth-quarter production of the steel-making ingredient, capping a record year as large miners boost their share of an oversupplied global market.

Output excluding a stake in the Samarco Mineracao SA venture rose to 83 million metric tons from 81.3 million tons a year earlier, the company said in a statement Thursday.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.