Brazil’s iron ore exports increase sharply in 2005
Brazil's Foreign Trade Association (AEB) indicates that the country's
iron ore exports will likely increase 71% year-on-year in terms of value to $8 billion in 2005.
The export volume of
iron ore is expected to amount 240 million tons this year, up 10.1% from 218 million tons in 2004.
Last year's jump in steel demand, fueled by
China's overheated economy and infrastructure modernization, caused a shortage of
iron ore in the global market. On the other hand, analysts predict a surplus in
iron ore in 2006 and 2007.