The ferrous complex was soft Friday 16 July, 2021 as spot eased, paper too but steel was stronger (though note that the gains were over a few days):
As warned last week, whenever the price approaches the $220 level, out comes the jackboot, from China over the weekend:
“We will coordinate with relevant departments to ensure the stability of bulk commodities supplies and prices… guide upstream and downstream players in the industrial chain to stabilise production, supply and marketing of raw materials.”