Eyeswideopen
Following what you are saying.
Spent 28years in an industry with the last 10 about 95% into China via the "grey channel ". (Not legal , not illegal ) The powers in China oversaw the imports.
When they recon the price was getting too high they would call the border and tell them not to let any off
the product into China resulting in the product price collapsing. When they were happy , open the border again.
Smart operators the Chinese.
Made me think of the coal situation last week.
(PS I'm not a fan of the banking sector at the moment)
Iron ore price, page-11122
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