Simandou Offsets Iron Ore Supply Cuts Elsewhere, Macquarie Says
AI Summary
Guinea’s Simandou iron ore project is ramping up and has offset supply declines from other sources, according to Macquarie Group. Lower iron ore prices, elevated freight rates, and diesel costs are squeezing producers.
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.
Markets Commodities Energy Shipping Simandou Guinea iron ore supply freight rates diesel costs mining producers