The Ministry of Steel was considering an export tax on iron ore after India s small and secondary steel producers earlier this year petitioned the government to curb rising exports.
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Indian exports jumped 170% to 44 million tons last year most of which went to China at a time when domestic demand for the raw material is rising. That’s prompted the worst-affected sections of the industry to seek restrictions from the authorities to protect their margins.
Mangaluru: The New Mangalore Port Authority (NMPA) announced the recommencement of iron ore exports from the port and the cargo aggregation through ra.
NMDC is not able to ship low-grade iron ore to the country s biggest iron ore customer, China, amid logistics issues, according to a source. This is a major hindrance as Indian producers of low-grade ores depend a lot on foreign markets since most major local steel producers use high-grade iron ores.