Dalian is slightly off its overnight limit down effort today and not even it cares about the Chinese inflation shock on its doorstep, rising after the print:
Likewise, Big Iron seems to think that nothing can stop it now with BHP -0.5%, RIO flat, FMG -0.7% and WHC -1.5%:
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I can only repeat, China does not want inflation pull through that forces it to tighten monetary policy. It is trying to sustain high growth into next year’s Communist Party Congress, as well as destock oversupplied housing markets. That means it is going to have jam down even harder on the bulk bubble to stomp out the base of the problem. Be warned.