The only way is up: The iron ore price boom that refuses to die

Four months ago, when iron ore prices were testing the $US150-a-tonne mark, alarm bells were warning that the forces that conspired to push the price to the stratosphere would abate.

Roll the clock forward and prices are now close to US$190 – nudging iron ore’s all-time high of US$193.

Shredding machines are bursting at the seams with discarded reports from economists and commodity experts, who have been on the wrong side of the iron ore forecasting game. Second-guessing the Chinese and the Brazilians is an occupational hazard.

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