In the Autumn of 803 CA, the mines in the holding of Kedway, Duchy of Kedwin, uncovered a vast vein of iron ore resulting in a boom in local supply with which the local guilds intended to flood the market. This would increase the supply of ore in the realm and reduce cost to the smiths who forge the ore into weapons, armor, and tools, and certainly increase the wealth of the duchy. However, the guild leaders of the nearby holdings in the Duchy of Flyrbjorn believed the flood of additional materials would not only damage their immediate financial interests, but create instability in the ore market for some time to come. The argument between the chapters of the Ore Merchants' Guild reached an impasse; the Flyrbjorn guild took to hiring mercenaries to attack the shipping routes used by the Kedwin miners, while the local nobility in Kewdin deployed their personal retinues to exact reprisals across the border. After little debate, the council determined the dispute was best resolved by the two duchies involved and declined to take action.
The guilds in Kedwin dumped their ore into the market and drove the cost of iron production and related industries to historic lows. The lower classes benefited most, gaining affordable access to labor saving tools. Valeria's military was able to acquire more weapons and armor and improve its readiness. The Royal Academy of Sciences purchased tons of ore to begin experimenting with new production methods and alloys. However, the resulting crash in demand for ore nearly bankrupted miners and merchants across the Kingdom driving wealth down. Demand dropped to near zero for the foreseeable future, as unused stocks of ore are piled around docks and warehouses throughout Valeria, and the base value of the resource was permanently reduced. Guilds from outside of Kedwin are less likely to trust House Amon and will likely charge higher prices to the Kedwinians in future.
This situation is resolved. No further action from the council will be required.
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