Australia extends iron ore price outlook above $100 per tonne to late 2021 Australia expects the iron ore price to stay above $100 per tonne until late 2021 - instead of mid-2021 as it said in a previous report - and decrease to $72 per tonne by the end of 2026. This iron ore price outlook for the rest of 2021 is supported on strong demand from China and concerns about disrupted supply in Brazil, Australia’s Department of Industry, Science, Energy & Resources said in its resources and energy quarterly report released on Monday March 29.
On the iron ore supply side, Australia expects challenges from competitors such as South America and Africa who should increase iron ore output in the coming years, but global iron ore markets should remain tight with slow growth in both supply and demand over the next five years, Fastmarkets heard.
Brazilian iron ore exports increased by 10.9% in February versus the corresponding month in 2020, with a significantly higher average price, according to data released by the country’s economy ministry on Monday March 1.
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SC seeks reply from Centre, 61 firms on PIL alleging duty evasion in iron ore exports to China
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SC seeks reply from Centre, 61 firms on PIL alleging duty evasion in iron ore exports to ChinaPTI
Last Updated: Jan 15, 2021, 05:54 PM IST
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Synopsis
A bench headed by Chief Justice S A Bobde took note of the submissions of lawyer and PIL petitioner M L Sharma that the companies be prosecuted for alleged evasion of export duty by declaring wrong tariff code to export the iron ore under the Foreign Trade (Development and Regulation) Act, 1992.
Agencies Issue notice, said the bench which also comprised Justices Justices A S Bopanna and V Ramasubramanian.