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Behold the Fortescue rocket

David Llewellyn-Smith
Tuesday 5 November 2019
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There’s no stopping it now:

Breaking out and now targeting record highs. The timing of this is pretty funny:

  • Vale iron ore is rushing back;
  • there’s some 60mt tonnes of new and resumed iron ore capacity coming next year;
  • Chinese growth is slowing steadily and the steel PMI is warning loud and clear;
  • Chinese iron ore inventories are being rebuilt at a good clip.

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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.