Iron ore prices for August 31, 2020:
Prices are still strong but the China steel PMI is fading, down 47 headline and 45.6 new orders:
New exports orders are disastrous at 35. There were flood disruptions. But overall, we are back at levels I would normally associate with price deflation.
Property sales still look fine:
And Brazil is still sick though slowly improving:
I’m feeling like a sneaky sell into seasonal weakness is the play for the traders today.