Loading ...Just like Oil, Gold, etc, what ever was too high a few years ago, got over produced, and it leads to surpluses, then falling prices.
Heating oil last year was REAL high. Then over produced. Today its real cheap. When things get too cheap, like Gold Oil Iron ore etc, production slows on the way down resulting is shortages.
Everything was high around 2011-2012. Mathematically futures emotionally dollar lower highs, not from physical demand higher.
Real estate too. Emotion drove demand, not need. Many bought extra houses they did not need, other than to flip. A million new flippers? A million extraneous houses built. Demand drove up prices, and builders built too much creating surplus, then weakness.
Iron ore:
http://www.infomine.com/investment/metal-prices/iron-ore-fines/5-year/