Australia and Brazil, the world’s two largest iron ore producers, remained China’s top suppliers in 2020, but imports from India soared 88 per cent as Chinese mills diversified sources amid sky-high raw materials prices.
Australian shipments rose 7 per cent to 713 million tonnes, while Brazilian supplies were up 3.5 per cent at 235.7 million tonnes, data from China’s General Administration of Customs showed on Wednesday.
“The two countries’ rise could not fully meet China’s demand,” said Tang Chuanlin, analyst with Citic Securities, “Mills had to buy from other countries.”
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