Daily iron ore price update (steel flood)

Here is today’s price update for the iron ore complex, as of 14 January 2016:

Big drops in the spot market as iron ore imports jump to a new record. China continues to flood world steel markets according to Bloomberg:

Steel exports soared as the nation sells its glut overseas. Inbound iron ore shipments climbed 17 percent to 96.27 million metric tons from a month earlier, according to customs data Wednesday. Full-year imports were 2.2 percent higher at 952.72 million tons, also an all-time high.