Bearish Macro see this as bullish for iron ore prices
MACROBUSINESS
[paste:font size="5"]David Llewellyn-Smith in Australian Politics, Commodities, Iron ore price
at 11:55 am on May 21, 2020 | 2 comments
Via the AFR comes a huge laugh out loud:
China has changed its inspection procedures for iron imports under new rules that analysts say could be used to block Australia’s most important export, as trade tensions between the two countries escalate.
China’s Customs authorities said in a notice the new supervising rules, which take effect on June 1, mean customs officials would inspect iron ore at the request of the trader or importer.
Bring it on. If they want to drive the price to $500 per tonne then let ’em!
We can buy a US cruise missile capability with the dough and point it at Beijing!
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