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The iron ore price has claimed 30 more jobs at Atlas Iron. Not a lot, thankfully, but it’s the only the leading edge. Atlas is flexible like this. It basically just picks iron ore off the ground and sticks in trucks so it can shift down fast when it needs to. I expect it to shift entirely into the abyss soon enough.
Find below a new video fro the Eureka Report making some useful basic points about iron ore, including the different costs of production. More late comers but hey:
As well, here is the UBS chart that nicely captures what ER is discussing:
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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.
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