Aside from the failed intervention, what stands out is the decline in the momentum indicators (as would be expected since the price can rise past 7.85). The market was stretched in April when the limit was hit. Now we're back at the limit and it's situation normal.
Iron ore rally overshot
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The iron ore bear market rally needs a new spur as steel and margins stall:
Dalian futures likewise look toppy: And coking coal: Steel output is still
ri...
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