Hi Dugsab, I think the CCP is pooping in their pants. Unemployment --> street protest --> social unrest ---> regime change.
That's why the naive attempt to force Chinese domestic IO production out of the market was self defeating.
Not only did it exaserbate Canberra's fiscal crisis and budget black hole but has also significantly diminished share holder return and value.
(IMO) the seet spot for the IO cartel was $95/T.
At $80/T, it's Chinese fun and games before restocking for major stimulus.
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