Iron ore prices for August 25, 2020:
CISA steel output remains huge:
As empty apartment sales rise:
In other news, there was a mysterious crash in Australian exports in July, at the AFR:
Iron ore exports to China fell 12 per cent or $1.11 billion to $8.12 billion, while coal exports to the country fell 42 per cent or $653 million.
Preliminary figures from the Australian Bureau of Statistics show the overall value of exports declined by $1.96 billion or 6 per cent to $29.1 billion.
It would be premature to draw any conclusions from this yet.
Overall, I still see China needing to restock ore over the next six months so also see this sell-off as temporary.