Major bank: Iron ore to crash

David Llewellyn-Smith

Monday 17 March 2025

Sense never lasts long in the iron ore market.

The market is still trading the long gone Pilbara cyclones. With China stocks down.

Even though production is well and truly recovered.

Apparent demand is a little better that 2024 for flat.

And a little worse for long.

Ahead are cuts, cuts, cuts!

But the market is long.

Not a bad set-up for a short through H2.

Goldman says $85 by Q4.

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.