The ferrous complex was weak on June 16, 2021 as spot, paper and steel all fell:
There was a pretty nasty combination of factors. First this:
The State-owned Assets Supervision and Administration Commission has ordered state-owned enterprises to control risks and limit their exposure to overseas commodities markets, according to people with knowledge of the matter. The companies have been asked to report their futures positions for Sasac to review, said the people, who asked not to be identified because the information is confidential.