Heading into the busy period for the steel mills. I can't help thinking that they are nuancing their messaging at the "two sessions" with the intention of projecting confidence in growth (and also actually supporting it by facilitating the aggressive spending of the local governments) while trying to carefully manage any hint of talking up the IO price. They see the latter, I would think, in the paradigm of damaging their economy, while progressing ours. It leads to a kind of double think, where the long term IO price is supported, but the mid term one not. But yeah- they will need to get aggressive at some point to hit the 5% target.
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Heading into the busy period for the steel mills. I can't help...
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