Exports of iron ore from Indian ports moved up by 90,000 tonnes in the month of Feb 2013. Major exports were done by Rungta Mines Ltd and NMDC, according to Indian customs report.
Market participants highlight that exports in the month of Jan 2013 were at around 6.5 lac tonnes where as in Feb 2013, it stood at 7.4 lac tonnes. Exports moved up majorly due to higher spot prices in Chinese market, which stood at around $152/t CFR for 63.5/63 Fe in Feb 2013 compared to $148/t in the month of Jan.
Although exports of iron ore from India took a major hit after Supreme court banned mining activities in Goa and Karnataka. Also higher export duty and freight charges resulted in falling exports from India. Industry experts expect exports to touch around 25 million tonnes in 2012-2013, which was at around 60 million tonnes in 2011-2012.
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