The ferrous complex bifurcated violently yesterday as Chinese premier Li Keqiang stuck his foot in his mouth. Spot iron was firm. Paper soared overnight. But steel was caned:
The driver was the release of this tidbit:
“Overall economy and operation of enterprises have continued to recover, but surging international commodity prices have brought great pressure on companies’ costs,” official Xinhua news agency cited a symposium chaired by Li last week.
