The ramp up at Guinea’s massive Simandou iron ore project has offset supply declines elsewhere as lower prices, high freight rates and diesel costs squeeze producers, according to Macquarie Group. “Simandou has single-handedly supported seaborne volumes,” the bank said in a note by analysts including Florence Sun. If October shipment volumes are sustained, full-year exports could be about 28 million tons, weather permitting, they said.
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03Nov2026
