The ferrous jaws remain wide!
Bears are on the run. S&P.
What’s happening? The Simandou iron ore project in Guinea is expected to have limited immediate impact on Australia’s Pilbara iron ore market in 2026. Logistical constraints and a gradual production ramp-up will restrict the project’s market entry, according to market participants who spoke to Platts. Shipments are expected at 15 million mt-20 million mt, and 2027 at 40 million-50 million mt, skewed to the lower end, following the first cargo’s delay out of Morebaya. China’s iron ore market has been in surplus since 2024 amid sluggish steel demand, even as prices held firm in 2025.
