Iron ore remains stable at US $93.61 for 62% fines, DOW jumps on Chinese and HK stimulus moves. Vale reduces production by 330,000 tonnes per month, or 2mt pa (and this is part of the new production that is supposed to offset the 60mt pa they are still down after Brumadinho).

I wonder, could that new Chinese stimulus include construction and infrastructure- both of which require steel? Might that explain the jump in steel production in China in HI CY19?

Dow jumps nearly 310 points to cap off a crazy week

ByDavid Goldman,CNN Business

Updated 2045 GMT (0445 HKT) August 16, 2019

New York (CNN Business)The Dow shot higher by 307 points Friday, as investors capped off a wild week for Wall Street on a high note.

US stocks rose after bond yields edged up and Europe and China announced plans for additional stimulus to shore up their economies in the wake of a global trade war. The Dow (INDU) finished the day with a 1.3% gain. The S&P 500(SPX)rose 1.4% and the Nasdaq (COMP) was up 1.7%

China's National Development and Reform Commission said Friday it willboost stimulusto shore up the country's economy, stabilize employment and give people more disposable income. Although China didn't elaborate further, that was enough to soothe investors' fears about the trade war's harm to the global economy.

China's announcement followed Hong Kong's $19 billion stimulus package, unveiled Thursday, designed to avert a recession in the wake of crippling protests.

https://edition.cnn.com/2019/08/16/investing/dow-stock-market-today/index.html