Hey guys (and girls).Thought we might need a nice news article...

Hey guys (and girls).
Thought we might need a nice news article to cheer us up;
https://www.hel lenicshippingnews.com/iron-ore-dips-ahead-of-china-holidays-winter-olympics/
(Remove space^)

"Iron ore prices fell on Monday as traders turned cautious ahead of the Spring Festival holidays and Beijing Winter Olympic Games, shrugging off a further liquidity-easing move by China’s central bank..."

"On Monday, China’s environment ministry said Beijing and the surrounding Hebei province would take emergency actions to curb heavy pollution, as it warned of “very unfavourable” weather conditions ahead of the Olympics, suggesting tighter steel production controls in the coming weeks."
(...this of course being the predicted manufacturing curb pre-olympics, which "wasn't going to happen" )

"But any pullback in iron ore prices may be limited as underlying sentiment remained positive amid China’s intensified monetary easing efforts to prop up an economy facing headwinds from fresh COVID-19 curbs and the property downturn.

The People’s Bank of China cut the 14-day reverse repo rate on Monday, after lowering a slew of key short- and medium-term rates last week.

“The system will be awash with hot money and liquidity, with investors using industrial metals as a speculative proxy for 2022 economic growth,” said Atilla Widnell, managing director at Navigate Commodities in Singapore."

-------------------------------------------------------------
To anyone feeling a bit crap today re the market (like me!),
just bear in mind the flipside of this wave - i.e. what all indicators are pointing to as being just around the corner/
Best wishes.