Mining companies compete intensely for Chinese market
The battle for the Chinese iron ore market has intensified among the global mining giants after China made a deal with Brazilian Vale. The price of iron ore is at risk of further decline, writes Reuters.
BY KATRINE GRØNVALD RAUN
Never before have the Australian mining companies Rio Tinto and BHP Billiton shipped more iron ore to China than they are doing right now. The battle for the market is intensifying after the world's largest producer of iron ore, Brazilian Vale, was successful in opening the doors to China with the company's 400,000 dwt Valemax vessels which have otherwise been prohibited at the Chinese ports, writes Reuters.
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