Macquarie: Iron ore headed for $60s

Wednesday 22 May 2024

An excellent presentation from Marcus Garvey, Head of Commodities Strategy at Macquarie Group argues on a five year outlook for iron ore:

China ex-growth
Steel demand flat to falling.
India provides some help.
Iron ore supply deluge ahead.
Crash into $60s needed for rebalance.

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.