Iron ore is teetering at one-year lows along with steel prices.
These support levels go right back to COVID. AFR is in panic mode. Radiant Group, a privately held company that has quietly risen to become one of the world’s largest iron ore traders, was reported to have allegedly provided invoices or other documents to its banks over recent months that were not valid, prompting major trading houses including Vitol Group and Cargill to cut ties with the firm.
Various banks have shifted bearish. CBA.
