MGX -> 19 bid -> breakout?, page-9

CISA is a mouthpiece of the Chinese government. I challenge you to find a CISA release/presentation/thought bubble that is positive about China's overcapacity or iron price, through ANY stage of the iron and steel demand cycle over the last 15 years! They have ALWAYS warned of a falling sky re: steel overcapacity and moaned about the high price of iron! CISA has for decades driven the govt's policy on consolidation. Banks have been used as a tool to push that same agendum.

Having said that, we are certainly in a very volatile, apparently oversupplied market. MGX, however, being majority owned by Chinese steel mills, will persist.

As always, buy on weakness, sell on strength.