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Indian Pellet Manufacturers Seek Higher Duty On Iron Ore Exports - PMAI

Steel News - Published on Tue, 18 Jun 2019

Image Source: SteelGuru
Business Line reported that Pellet Manufacturers’ Association has written to the Prime Minister’s Office seeking an increase in export duty on iron ore from 30% to 50%. The request is for a higher duty on all iron ore that has more than 58% iron. The letter from PMAI said that “To realize the nation’s vision of 300 million tonnes steel capacity by 2030-31, adequate availability of iron ore of suitable grade at suitable prices would be crucial to meet the requirement of 236 million tonnes per annum iron ore (with 62 to 65% iron) by 2020 and 480 million tonnes per annum by 2030.”

The association said there had been a multi-fold increase in iron ore exports in the last few years in spite of the 30% duty in place. This is because production costs in India are low and exports are lucrative at present prices despite the duty.
Iron ore with less than 62 per cent iron content is used for pellet manufacturing. India has 85 million tonnes of pellets and 115 million tonnes of beneficiation capacity, bulk of which is idling for want of iron ore at reasonable price.

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Posted By : Ratan Singh on Tue, 18 Jun 2019
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