It looks like we're seeing a real shake out in the industrial metals space. The sell off has been pretty unhealthy. Because China accounts for 50% or so of global demand I guess it's no real surprise that any uncertainty in that market is going to have a knock on effect elsewhere.
The real question now is whether to get into the market at this juncture, or wait to see if it continues to fall. I'd have expected Russian demand to take up some of China's slack a year or two ago, but now I'm not too sure.