Brazil and Australia resume plans and reassert control over iron ore market

Overall market momentum is already favorable, with the world's big four - Australia, Brazil, South Africa, and Canada - shipping approximately 356 million tons in the third quarter of 2021, up 6.5% from the previous quarter and up 13% from the first quarter.

RIO DE JANEIRO, BRAZIL - Brazil, and Australia are expected to reassert their dominance of the iron ore market over the next two years as several new mines come on stream following the lifting of Covid restrictions.

Australia's iron ore exports are expected to grow by almost 6% next year, with the Australian government now indicating that total export volumes could reach 874 million tonnes in 2021 (and likely more, as AXS Marine data already shows 876 million tonnes as of December 23, 2021), rising to 923 million tonnes in 2022 and again to 948 million tonnes in 2023.

The . . .

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