Picking up the bat and running with it is GLJ research:
Is it Realistic to Envision an Environment where Iron Ore Prices Drop Back to the 1989-2003 Avg. of $30/MT – i.e., the Pre-China Construction Boom Price?
First off, we’ll remind our readers that from the period of 1998-2003, 62% Fe spot iron ore prices avg.’d $30.17/MT (yes, you heard that right) – Ex. 1.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
