CBA wrongly wrong on iron ore

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The CBA has opted for the glass-half-full approach to steel and iron ore:

“For iron ore prices to find meaningful support again, we would need to see policy on China’s steel output cuts relaxed,” he says.

“That’s not as unlikely as it seems, especially if steel prices lift notably.

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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.