Really enjoying the game so far.

Played about 8 hours and I'm still on the first mission, don't think I've even made it anywhere near the target yet. I was kind of worried that it might be too easy on the hardest difficulty setting, but it seems to be very well balanced, as I'm frequently getting killed and reloading. With the objective markers and hints turned off, it seems to be more of a free roam sort of game, where you can simply wander around and explore the game world.

However, perhaps because I have the contextual icons turned off, I haven't been able to figure out where to use this valve.

I found it in the High Artificer's laboratory, with a note indicating it's to be used to open a "storage room by the loading docks." I've been hauling this valve thing around through the entire level (which is kind of a pain because you can't use your powers or climb anything while you're carrying it), all over the backyard area near the loading docks marked A,B,C and D, but can't find any place to use it.

Have you found a building with a dead Overseer in? It's there. There's a note on the wall by the place the wheel is used. You don't actually need to use it, as there's at least two other ways to get in there.
Did you find a long chain going down to the river? The building is near there.

You have to carry that wheel to another building. I think it goes like this: if you walk out the door of the storage room with the wheel, turn left, follow the street, turn right, follow the street to the end there will be a building on the left. The wheel connects there. But beware because this is a patrol route. With hounds.