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.