Shares, the NDRC is doing the usual blustering knowing the cartel may have already started to pull back some cargo.
The big thing here is not what was said but that it was the NDRC who said it.
What the Chinese is saying is ..."I know what you guys can produce and ship based on the record exports from Port Hedland number in March and in particular April"....
This time it is trying to corner the cartel into a difficult position politically.
Problem is the cartel controls the supply. $Billions invested in Capex for expansion doesn't mean IO needs to be shipped at any cost for the Chinese to stockpile on the cheap.
If the Big3 pulls back just a tiny 3MT per month, that's a 108MT off the market enough to jolt the price back to $120/T.
SDL Price at posting:
8.4¢ Sentiment: Buy Disclosure: Held
