Why the iron ore bears will always end up disappointed

Despite iron ore’s well documented economic significance, it faces deep-seated pessimism among industry commentators.

The commodity supports 70 per cent of the world’s steel production. Steel is everywhere, underpinning our modern civilisation. Production of the next most significant metal, aluminium, is one-30th the volume of steel globally.

Iron ore generates two-thirds of global mining industry profits.

 

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