Daily iron ore price update (early bust?)

Iron ore prices for August 24, 2020:

There are port problems that are clearing:

The China Iron and Steel Association (CISA) said on Tuesday that iron-ore discharging difficulties and port congestion issues are likely to ease in mid- or late-August as the weather improves and the coronavirus is under control.

This is old news but maybe playing a role in prices coming off. As well, there is the general commodities retrenchment as DXY stops falling.

Empty apartments sales have come off too:

And Brazil is getting back to work despite the virus:

It’s possible that Spring seasonal weakness has come early this year.

David Llewellyn-Smith
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