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.
Other commodities are also sinking. One of the only commodities that is increasing today is ICE NBP Natural Gas.
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!