Guinea's Simandou iron ore exports surge in May
Time:Mon, 08 Jun 2026 09:47:29 +0800
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Shipments from the Simandou project's Morebaya port reached 2.2 million tons in May, up sharply from 1.3 million tons in April and less than 0.6 million tons in each of the first three months of the year, according to Bloomberg.
Simandou, expected to ship 120 million tons annually at full capacity, has faced challenges. However, improved port loading efficiency and government pressure on the two consortia to cooperate likely drove the recent export jump, according to analysts.
Most of Guinea's iron ore exports so far this year have gone to China, though it remains unclear whether the high-grade ore has been absorbed into steelmaking demand.
The surge comes as China's steel demand weakens and inventories stay high, with traders watching whether Simandou will displace Australian and Brazilian supplies or add to an oversupplied market.
