Brazilian shipments of iron ore to China increased 6.5 percent in volume terms year-on-year in the first seven months of 2015, financial news service Bloomberg reported last week.

The latest customs data from China show the country imported 100.7 million tons of iron ore from Brazil in the January-July period, according to Bloomberg. China’s total imports of iron ore were little changed at 539 million tons over the same time period.

In July alone, iron ore shipments from Brazil to China surged by 17.5 percent year-on-year to 16.6 million tons.

Bloomberg reported that Brazil and Australia —the world’s two largest iron ore exporters — were adopting a strategy of boosting low-cost supply. The goal was to offset a global slump in iron ore prices by increasing sales volumes.

Australia’s Department of Industry and Science predicts Brazil and Australia will together account for 83 percent of iron ore supply in the global market this year. That share is expected to jump to 87 percent in 2016.