Pilbara killer begins to eat WA

David Llewellyn-Smith

Wednesday 7 October 2026

You can’t tell from the headline index but iron nore is now falling at good clip/

The key is to adjust for abnormal shipping rates. We are now sitting at about $85.

My latest Simandou model has a flow rate of 90mt per month by year-end 2027.

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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.