August 11,
From virtually no where, China has become the biggest foreign investor in Brazil this year. Investments from China have been mainly in the Iron ore and Steel sector.
Companies such as Wuhan Iron & Steel, Hombridge holdings and East China Mineral & Exploration development Bureau have signed billion dollar deals with Brazil’s steel and Iron ore mining companies.
It can be said that slowly China is shifting its focus to Brazilian market which is one of the fastest growing emerging markets.
This could be one of the reason why the freight charges in Brazil to China route have been increasing consistently since mid-July and is presently around $ 24/tonne.
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