What's the Biggest Factor in the European Markets?

The absence of China from the spot market over the last few weeks has definitely raised a few eyebrows. There was some hope that there would be a post-luna-new year spike because of their loosening of COVID restrictions, but that hasn't happened. It remains to be seen whether industrial activity could actually spark this increase or whether demand destruction that has already previously happened caused by high prices would filter through into this year. Those are the main questions. A lot to be thinking about.