Shanghai rebar is howling that the FE complex is in deep trouble as it takes out seven-year critical support on the monthly chart:
The trigger yesterday was a meek Third Plenum statement:
At the session, an analysis of the present situation and the tasks we face was conducted. It was highlighted that we must remain firmly committed to accomplishing the goals for this year’s economic and social development. In accordance with the Party Central Committee’s decisions and plans concerning economic work, we will ensure effective implementation of macro policies, strive to expand domestic demand, develop new quality productive forces in light of local conditions, move faster to foster new drivers of foreign trade, take solid steps toward green and low-carbon development, ensure and improve the people’s wellbeing, and consolidate and build upon our achievements in poverty alleviation. We will review and assess the implementation of the 14th Five-Year Plan (2021-2025) and make sound preparations for the 15th Five-Year Plan (2026-2030).
