Australia's iron ore export value to China hit record high in Oct
According to statistics from the Australian Bureau of Statistics, due to strong demand, the country’s iron ore export value hit a record high in October, reaching US$10.9 billion. Among them, the exports to China accounted for 80% of Australia's total iron ore export volume, far exceeding Japan and South Korea.
Brazil’s iron ore export capacity has been declining since the Vale’s Brumadinho dam collapsed last January, and the Simandou mine in Guinea hasn’t produced iron ore yet. Therefore, iron ore from the Pilbara region of Western Australia became the main source of China.
