No China today so the crapped out ASX is left to deflate all by itself. Big Iron ore is leading it with FMG approaching new post-correction lows:
No real news today though the Platts China Steel Sentiment survey has cratered:
The S&P Global Platts China Steel Sentiment Index slumped to 33.1 this month from 45.1 in April, weighed down by the outlook for domestic steel orders. The gauge is based on a survey of between 75 and 90 China-based market participants including traders and steel- mill executives.