Chinese politicians are as creditable as our own....
They have been trying to talk down the IO price for months. With only limited effect. Now China’s Industry Minister Xiao Yaqing thinks he talk it down by telling us the steel mills will produce less. I call BS on this.
The country has more new coal power plants going in this year than the total number in the USA.
Its a fruitless act like trying to hold down the Dallian Futures,. It will only be temporary..
In other news the futures are UP. The Seabourne is UP - and all the other indicators that point to future price growth.
Don't believe me check out the Shanghai Metals markets for more info
MMI 31 12 2020 page 1 .pdf
starting to hit investor radars, page-62
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