Iron ore charts for September 28, 2016:
Tianjin benchmark fell 0.5% to $55.90. Paper took off overnight. Rebar rolled again. I suspect we’re in something of a pre-Golden Week holding pattern with restocking to the fore. This is probably the case for coal as well though, as said many times, Chinese inventories has sunk so low that it will take time to clear the pent-up demand. By year end I expect thermal to be in full reversal. Coking will take another quarter.
In news, Vale put a number of S11d next year, from Reuters: