Ibram sees 15% increase in iron ore exports to China in 2007

Saturday, 17 Feb 2007

Brazil's mining institute Ibram told BNamericas that Brazilian iron ore shipments to China could increase by 15% YoY in 2007 and that the total Brazilian exports of iron ore are due to expand by more than 10% this year over some 260 million tonne in 2006.

Ibram said that China imported 80 million tonne of iron ore from the South American country last year adding the forecast increase in volume reflects ongoing strong demand in Asia.

Brazil is the home of several global iron ore miners including CVRD, J Mendes, MBR and Mhag.