What are the benefits of Sino-Western joint venture to build a steel plant in Brazil for China?

For China: directly use Brazilian iron ore (to avoid being controlled by international iron ore); Expand the international market.

For Brazil: it is conducive to transforming resource advantages into industrial advantages and increasing the added value of iron ore; Reduce the dependence of steel on the international market; Improve the self-sufficiency rate just now; Improve the level of industrialization.