The ferrous complex reversed downwards yesterday:
Is that it? Perhaps. JPM sums up the market for metals:
Index rebalancing inflows across most base metals has likely helped bullish price action this week, though the strong breakout in metals like copper and aluminum reflects more positive macro outlooks in both China and the US.•In China, reopening is progressing much quicker than expectations even a few weeks ago, sharply boosting sentiment around the strength of Chinese metals demand post Chinese New Year.
