In recent years, many Chinese steel companies have invested in overseas mining industries aiming at reversing their dependence on imported iron ore. However, lately some steel enterprises in Brazil have appealed to their government to prevent Chinese investments in the country, though without yet receiving any official response.
The third largest Brazilian steel company Companhia Siderurgica Nacional (CSN) has commented that, as China is the world's largest iron ore importer, its investments would probably have a negative influence on the domestic industry in Brazil. CSN went on to advocate that the Brazilian authorities should take effective measures to protect the domestic sectors. In addition, according to CSN, in the next five to ten years domestic demand for iron ore in Brazil is expected to expand by approximately seven to eight percent.