Hi
I think the falls have even taken the Chinese by surprise.
The domestic steel market is still depressed and money hasnt yet started to flow. Also they have just come out of Chinese New year when historically nothing gets done. Since beg Feb then they have seen the market rise a little but overall the mood is still down. I would expect the prices to drop 40 percent. I think the iron ore producers will fight that tooth and nail. Its still a very volatile situation!
Hi I think the falls have even taken the Chinese by surprise....
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