The ferrous complex was mixed on November 5, 2022 as spot hit a new low for the sell-off while steel dead cat bounced and took paper with it:
This is all technical waffle. There is nothing to stop the entire ferrous complex from halving again from here. In fact, expect it to.
Chinese demand seen through the prism of trade was OK in October with exports at 91.6mt and the rolling annual has flipped negative 1% with much worse ahead:
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