Oops, there’s an iron ore upside driver, via Macquarie:
A significant decline in Western Australia iron-ore shipment rates during January and February is likely to have contributed to the recent strength in iron-ore prices. Shipping rates have started to recover, but the wet season is far from over, and with 2017 looking like a more average year, the risk of further supply interruptions remains.
Pilbara shipping rate fell over +100mtpa in early February
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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.
