The Central Bank more or less decided that it couldn't keep expanding the money supply, which was increasing at dangerously high rates(which hasn't really began to bleed into real goods yet), and it has more or less abruptly decided to discontinue giving spot money to banks on easy terms, further signalling no reductions in short term interest rates anytime soon.
I think the Everbright bank situation, and the proliferation of wealth management products (which are used to evade scrutiny on loans) prompted this.
As a result, and this has been going on for the past few months, actually, many commodities and other items are being sold below cost. Such as iron and iron products.
I get the feeling that there will be a good chance to pick up good pu at reasonable prices towards the fall, if this spirals further, past mid July or so. Maybe not 1997 or 2008 good, but something reasonable.