Wednesday, January 19,
There is market talk that India may lift export duty on iron ore to 20 percent from 5-10 percent currently, traders said, further tightening supply from the world’s third-largest exporter where a key state Karnataka has already banned shipments since July.
India last raised the export tax on iron ore lumps in April 2010 to 15 percent from 10 percent, after slapping a 5 percent export duty on iron ore fines in December 2009.
We expect export duty on fines to be hiked to 20 to 25 % said an exporter based in India. This will add an extra cost of approx Rs 1000/Mt he added.
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