Iron ore giants expand clout as sales to China rise

Singapore

IN the global iron ore market, the world's two biggest exporters are expanding sales into the top customer, winning a greater share of trade as prices tumble.

Cargoes from Australia to China rose 13 per cent to 347.4 million tonnes in the first seven months of the year, while Brazil's shipments gained 6.5 per cent to 100.7 million tonnes, customs data from the biggest buyer showed on Friday.