Iron Ore futures are down a whopping 4.66% today as China real estate developer Evergrande plunges into insolvency. And Evergrande’s bond that matures in 2022 sinks to $29.50.
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See also Gold's Open Interest on Comex indicates that futures are not overbought, suggesting that when it is over this decline could support a decent upward move. Are we going higher or lower from here?
Other commodities are also sinking. One of the only commodities that is increasing today is ICE NBP Natural Gas.
See also Kim Dotcom: 'BRICS+ includes Brazil, Russia, India, China, South Africa and soon Indonesia, Saudi Arabia and 13 other applicants. This multipolar alliance is bigger than the G7. It will end US hegemony and the US dollar as a reserve currency. '
And that is a shame is your rely on propane for heating, since propane prices has risen 78% since the election of “Delaware Joe” Biden as President.
Thanks a lot, Joe and Congress!