- A massive 30% export tax kicks in this quarter on the lower Fe grade material between 58 to 62%. That is expected to decimate exports this quarter, the Business Standard reports.
- According to the New Indian Express, production declined during 2020. Comparing the two years January to September 2019 to the same period in 2020, iron ore production totaled 110.95 million metric tons in 2019.
- Iron ore prices have risen due to Chinese, not Indian, steel demand. Yet, Indian steel mills face the same inflationary cost structure due to rising iron ore and coking coal prices.
For further details see:
Indian Industry Groups Put Pressure On Ministers To Ban Iron Ore Exports