Sales by Brazil’s Vale do Rio Doce to China expected to rise 32 pct in 2007

6 September 2007

Brasilia, Brazil, 6 Sept – The sales of iron ore by Brazil’s Companhia do Vale do Rio Doce (CVRD) to China are expected to total 95 million tons this year, according to estimates from Chen Xianwen, director of the market research department of the Chinese Association of Iron and Steel.

This performance represents a rise of 32 percent – or a further 23 million tons – against 2006.

CVRD, similarly to the world’s other two major suppliers of iron ore, is to continue increasing its production over the next few years in order to meet increasing Chinese demand, Chen added.

At the end of August, the association led a delegation made up of the country’s largest steel producers on a visit to the world’s three largest ore suppliers: CVRD, and Australia’s BHP Billiton and Rio Tinto.

According to Chen’s estimates, CVRD’s total production in 2007 will be of between 298 million and 300 million tons, while Rio Tinto may reach production of 180 million tons.

For BHP Billiton, the director projected production of some 107 million tons for this financial year. (macauhub)