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China is the world’s largest importer of iron ore pellets, accounting for 23% of the total maritime pellet trade between CY2016 and CY2020.
On the other hand, Brazil is the largest exporter, accounting for 25% of total pellet exports during this period.
Chinese pellet imports surged in 2020 following restrictions imposed on sintering activities by the Chinese government to reduce carbon emissions.
China imported 45.0 million tonnes of pellets in CY2020 compared to 32.6 million tonnes in CY2019.
On the other hand, Brazil reported a drop in pellet exports to 15.5 million tonnes in 2020 from 24.4 million tonnes in 2019 due to persistent supply side constraints following the disaster. dam, causing a 4% contraction in world supplies. .
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