Concerned over rising trend in iron ore exports, pellet manufacturers have called for a total ban on exports of high grade iron ore fines from the country in the interest of the local steel industry.
“High grade iron ore is a scarce resource that needs to be conserved for value addition,” they said.
Pellet makers who are forced to operate at depleted capacity, are also pitching for 30 percent export tax on lower grade fines (iron content of 45 to 58 percent). The Union government has exempted export duty for low grade iron ore fines (iron content below 58 per cent) while continuing with the 30 per cent duty on high grade iron ore.
Federation of Indian Mineral Industries (Fimi) has been lobbying for a cut in export duty on higher grade iron ore. To study the possibility of rationalisation in export duty, the Union mines ministry has formed a committee.
But, Pellet Manufacturers Association of India (PMAI) is opposed to any move to prune or abolish export duty on iron ore.
This story is from the November 2017 edition of Steel Insights.
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This story is from the November 2017 edition of Steel Insights.
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