Govt scraps 5% export duty on iron ore pellets - Feedback

The Government has reportedly scrapped a 5% export duty imposed on iron ore pellets in view of the falling global prices and the lack of demand for such ore among domestic steel producers. The 5% export duty was imposed in January 2014.  The latest step is expected to benefit pellet makers, which include top miners, as well as leading steel companies, according to a business daily.

More than half of India^s installed pellet making capacity of 90 million tonnes (MT) is unutilised due to poor demand. Pellet manufacturers had been insisting on removal of the export duty and a revision in distance-based charges to facilitate exports.

About news

We take care of publishing the latest investment news and highlights for Feedback

Leave a Reply

Your email address will not be published. Required fields are marked *