Australia gains on Brazil’s sales of iron ore to China

23 October 2014

Chinese imports of iron ore from Brazil grew 13 percent from January to September in but Australia’s sales rose 33.5 percent in the same period, according to figures issued Wednesday in Beijing by China’s Customs department.

The figures cited by financial news agency Reuters also show that total Chinese imports of iron ore rose 16.5 percent from January to September, with 406 million tons, or 58 percent of the 700 million tons imported in the period, originating in Australia.

China bought iron ore from Brazil, which was mostly exported by Vale, amounting to 125 million tons, or 17.9 percent of total purchases in the first seven months of the year.

In the same period of 2013, China imported 600 million tons of iron ore, with Australia supplying 304 million tons (51 percent of total) and Brazil 111 million tons (18.4 percent of total), according to the same Chinese government department.

Australia’s increase market share in China comes at a time when mining groups Rio Tinto and BHP are mining more ore than Vale.

In recent years iron ore has been Brazil’s main export product. (macauhub/PR/CN)