Momentum, irrational exuberance? Certainly surprised me post QR given forward news vacuum & weak China macros, but Fuzzy's little media stunt certainly knocked that out of the system.
Look at Jan/Feb, not dissimilar, delayed reaction Dec prices? You'll never quantify specifically but IMO if Fuzzy's unsanctioned outburst was solely responsible the SP should climb straight back up there from whence it came.
Conversely I think we'll be waiting fresh news/NdPr appreciation (SRB round) to get the SP moving Nth again. And potentially some V big ticket items pending, if the little birdie tells me true.
Probe., page-21
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