When Alberta Investment Management Co (AIMCo) announced on Dec 5, 2013 that it sold its entire holding of Precision Drilling, the SP dropped for more than C$1. There was nothing wrong with the business. It took PDS to return to that previous level last week.
Chinese steel and iron ore futures fell on Tuesday to their weakest levels since they were launched, reflecting thin demand from the world's top consumer of the two commodities that has also slashed spot iron ore prices by 7 percent this month.
Iron ore for immediate delivery to China fell nearly 2 percent to $124.80 a ton on Monday, its lowest since July 10, according to data compiled by Steel Index."
Don't forget the Chinese New Year starts on Jan 31. Factories are closing down for migrant workers to take days to go home for the most important festival of the year. Buyers and sellers have closed their books. Wait for activites to return to normal after the Chinese New Year.