It is reported that the average price of iron ore in the international market this year will be 16% lower than last year, falling to around US$140 per ton, which is lower than US$147 per ton two years ago, but still much higher than the US$80 per ton in 2009. .

The company’s economist Vermeisson-Fransa believes that the golden age of the iron ore inter- market is over. Iron ore prices in the international market rose from 33 US dollars per ton in 2000 to 168 dollars last year. Even in the event of a turmoil in the collapse of Lehman Brothers Bank in the United States in 2008, iron ore price hikes remained unaffected.

The fall in iron ore prices in the international market has a direct relationship with the economic trends in China and the euro zone. China is the world’s largest importer of iron ore and is also the largest export market for iron ore in Brazil. 50% of Brazilian iron ore exports are exported to the Chinese market, 19% to European countries and 11% to Japan. Last year, Brazilian iron ore exports to China increased by 7.8%, while exports to Europe and Japan dropped by 20% and 8.6% respectively.

LCA Consulting believes that the Chinese economy has dropped from an average annual growth of 10% to 12% to 7% to 8% this year, and will naturally have an impact on the demand and price of iron ore. The international market is now based on iron ore with 62% iron content. Brazilian iron ore has a high iron content of 65% to 66%. The market price is slightly higher.

Brazil is the second largest exporter of iron ore in the world and its output is second only to Australia. However, in the world's five largest iron ore producers, Brazilian company Vale ranks first. Brazil's iron ore production is expected to increase by 2% this year, but the growth rate is lower than last year's 4%.

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