On October 4, 2016, Tianjin spot fell 0.2% to $55. Markets can consider themselves fortunate that Chinese futures are shut. The news flow is bad on Chinese property tightening and I expect a correction next week when Dalian re-opens.
In news, India is pumping as much as it is allowed:
Mining conglomerate Vedanta Ltd expects that Goa will export around 20 million tonnes of iron ore in the current fiscal.