Iron ore is going to break…

Friday 21 March 2025

The jaws are getting stupid as steel prices are in free fall.

This gap is destroying steel mill profitability. They are not overstocked with ore but they’ll need to run even tighter inventories soon to cut the price of inputs.

The news flow is awful.

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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.