It is carnage in the ferrous complex. Yesterday the market was weak. Overnight it crashed limit down:
The culprit is a new brand of sovereign risk to match and defeat Australian warmongering. Iron ore is now at the top of the CCP agenda:
Premier Li Keqiang of the State Council presided over an executive meeting of the State Council on May 19 to make arrangements to ensure the supply and price stabilization of bulk commodities and maintain stable economic operation; determine measures to optimize notarization services to better facilitate the business and benefit the people; pass the “Regulations on the Administration of Pig Slaughter (” Revised Draft)”.
