Chapter 1564 - 90 Rich Flaunts Power! A Series of Poisonous Schemes_3
Tests revealed that although the overall cost of this new type of battle armor is considerable, its mass production could substantially reduce costs. Particularly, its significant reduction in Xuan Iron ingot consumption greatly decreases the dependency of the Black Armor Department on Xuan Iron ingots.
This also means that from now on, Xuan Iron ingots will no longer be guaranteed to sell as soon as they are mined.
Meanwhile, a "confirmed rumor" began to circulate secretly in Immortal City. It was privately disclosed by an insider that the Jing’an Wei Family holds over 600,000 units of Xuan Iron ingots!
Far exceeding the demand of the Black Armor Department!
The supply-demand relationship has been completely reversed.
In an instant, the prominent families who had been observing and hoarding Xuan Iron ingots, unwilling to sell, could no longer sit idly by. They scrambled to sell off their Xuan Iron ingots, trying to cash in while the price was still high to avoid having them depreciate in value while in their possession.
But while everyone wanted to sell, no one wanted to buy. Major families could only reduce prices to facilitate transactions.
The most direct result was a market crash. The price of Xuan Iron ingots, which had soared to its peak, began plummeting within mere half a day. It first dropped from 1,300 Immortal Crystals to 600, but even 600 failed to hold; it quickly collapsed further to 400, then 350...