Brazil, which competes with Australia in iron ore exports, seems to be losing its ranking as China’s top source, according to a media report.
While Brazil exports of the product to China increased 13 percent from January to September this year, Australian sales to the Asian country rose 33.5 percent in the same period, a media report said, citing data from China’s Customs department.
Figures show that total Chinese imports of iron ore rose 16.5 percent from January to September.
Most of the iron ore China buys from Brazil is produced and delivered by Vale. Brazilian exports of the product to China reached 125 million mt in the period.
Australian exports reached 304 million mt, the report said. China’s total imports of iron ore reached 600 million mt.