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The commerce chain between Brazil and China jumped from U$ 6 billion in 2003 to U$ 10 billion in 2004, due to the increase of ore iron and soy embarkments. China is the 3º importer of Brazilian products. Exports to that country had reached, in 2003, USS 4,53 billion, a 78% growth. Brazil is the 17º supplier for China and the 24º destination of Chinese products. The main exports to China, in 2003, 35% were of soy and derivatives, 17% iron ore, 10% steel, 6% cellulose and 6% iron and steel manufactured.
Today China is the biggest market of iron ore exportation of Brazil, surpassing Japan. Shanghai Baosteel, Chinese largest steel producer, established a joint venture with CVRD, for iron mines exploration in Brazil. The partnership led to the project of installation of a new steel plant, in Maranhão. The agreements between CVRD and China also include the construction of ships for ore and soy exportation and other logistic operations. China today represents for CVRD what Japan represented in the 60's, but in a much larger dimension.
China currently consumes 25% of all steel produced in the planet and purchase 1/4 of all the iron ore. Steel sells to China had grown almost 500%, reaching USS 750 million. This increase turned China the second destination of the Brazilian steel exports. China is greater world-wide iron ore and siderurgical products importer.
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