Macro: Time to buy iron ore?

Iron ore fell 30% last financial year. Is this the time to buy, asks David Llewellyn-Smith of MacroBusiness.

As the primary driver of a 150-year boom in its terms of trade, iron ore has been good to Australia, the central pillar of our contemporary prosperity in fact. Once again, we got lucky, this time with unique convergence of three cycles: Chinese catch-up growth and urbanisation; an unprecedented steel boom; and a massive supply expansion.

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