We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

The market often becomes fixated on the big stories of the day while other important news is sidelined. This was the case of events in July which, months later, had dramatic results.Let me elucidate.In mid-year the Chinese government under President Xi Jinping decided to clamp down on the country’s technology sector. Investigations, regulations and talk of break-ups were the resultant rhetoric, and prices tumbled.In the past months, global titans Alibaba, Ant Group, Tencent and DiDi have had hundreds of billions of dollars wiped off their valuations.Behind this there was another major story, one overlooked by the mainstream media. I’m talking about events in the iron ore and steel sectors specifically.In July the Chinese state started to batter the domestic steel-producing sector.China is the world’s largest steel producer, at 1.1bn tons in the past year. The country imports vast quantities of iron ore to feed its blast furnaces. This steel production has powered Chinese growth in c...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now