Who pays for the Pilbara killer?

Thursday 2 April 2026

The ferrous complex is still agitating around oil, but the jaws are pretty wide, even accounting for increased shipping costs.

The China PMIs were not very encouraging. Although they bounced.

The PMIs were led by insurance, telecommunications, radio, television, and satellite transmission, railway transportation, and financial services sectors, which were all above 55.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.