Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Deep Fundamental Analysis

Iron Ore and Dry Bulk Freight, Mint Finance

Umang Agrawal

Iron Ore and Dry Bulk Freight

Equity Bottom-Up

<ul>
<li>Simandou’s planned 120 Mt annual output could supply about 6% of global seaborne ore by 2030, pressuring Australia and Brazil and shifting premium-grade pricing.</li>
<li>Despite Guinea’s push to diversify buyers, roughly three-quarters of Simandou’s ownership ties back to China, making most tonnage effectively committed to Chinese mills.</li>
<li>Weak Chinese steel margins and a 12% YoY drop in October output limit near-term uptake, but long-term decarbonisation trends support stronger demand for high-grade feedstock.</li>
</ul>


Simandou’s planned 120 Mt annual output could supply about 6% of global seaborne ore by 2030, pressuring Australia and Brazil and shifting premium-grade pricing.
Despite Guinea’s push to diversify buyers, roughly three-quarters of Simandou’s ownership ties back to China, making most tonnage effectively committed to Chinese mills.
Weak Chinese steel margins and a 12% YoY drop in October output limit near-term uptake, but long-term decarbonisation trends support stronger demand for high-grade feedstock.


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