Federation of Indian Minerals and Industries (FIMI) has asked Indian government to reduce export duty on iron ore fines and lumps to 5% (currently 30%) in coming budget.
Indian government had imposed an export duty of 30% on both iron ore fines and lumps last year in order to secure supply to domestic mills. Although FIMI vice president highlight that it is iron ore fines which is being exported to China and it has not much demand and usage in India as of now.
Exports of iron ore from India have fallen drastically this year on account of extra ordinary export duty and high railway freight.
Although industry exports feel, chances are very thin that government will consider any duty cut on exports, especially when pellet plants are speeding up across the country.
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