Australian budget Australian Economy Iron ore price

Australian iron ore dependence at record high

Wednesday 9 September 2020

At around one-third of total exports, iron ore is not quite Chile’s copper or Norways’s oil at roughly half their exports, but it’s mighty big:

It gets close to half if you add coking coal, which is the same trade.

Given everything else to China is going to shrink hence, the steel bulk commodity’s share may remain uncomfortably high too.

Rent tax and sovereign wealth fund anyone?

About the author

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.