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Brazil Iron Ore Projects - The perfect timing to invest in BrazilIron ore prices in 2011 are expected to beat the previous record set in 2008 during the last commodities boom, says Mr. Jefferson Michaelis head of the Brazilian Chamber of Commerce, and the executive assigned to travel to Brazil to assist Athena Holdings developing its JATAPU Iron Ore project. Spot iron prices rose US90c on Tuesday to $US171 a ton, making for a $US6 increase in the past month, according to The Steel Index. Iron ore supply had not yet responded to higher demand levels, which could put upward pressure on iron ore prices, an industry expert said. In addition, India's continued ban on iron ore exports from Karnataka state, designed to preserve supplies for domestic steelmakers, has also pressured supplies. Brazil, Australia and India are the world's three biggest iron ore exporting nations. According to some market experts the average annual spot market price this year will rise to $US153 to $US154 a ton of iron ore fines with 62 per cent iron content, delivered to China, from $US146.70 in 2010. In the US mills are now putting up their steel prices like crazy. Global steel demand is expected to improve by 5 % in 2011. Iron ore is the main ingredient in steelmaking. All these perspectives, allied with the fast growing Brazilian economy is providing to Athena's JATAPU iron ore project a huge competitive advantage towards to its consolidation and expansion in Brazil, commented Mr. Alex Kollontai, Athena's CEO. ###################### About BTCC:The Brazil-Tampa Bay Chamber of Commerce, Inc. is a bilateral, not-for-profit business organization. The Chamber has emerged as one of the most dynamic bilateral business catalysts in the nation in recent years. The organization aims to promote trade and investment flows between Brazil and the United States and to forge closer ties between the business communities of both nations. Contact: info@braziltampa.org To contact the editor responsible for this story: Cibele Santiago, Newsroom Brazil - CSantiago@braziltampa.org
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