Indian iron ore exports have almost halved in last one year, thanks to high export duty, high freight cost and government measures to curb illegal mining , which has led to closure of many mines.
With exports drying out from Indian ports, iron ore exporters are looking to supply it to domestic pellet plants which is growing at a very rapid pace.Experts think that with proposed capacity o pellets, requirment o iron ines will be huge in next 2-3 years.
Sources report that 63% o ines has been to sold to a pellet plant based in Vizag port at Rs 4,800/t (Taxes Extra), which is much higher than he would have fetched from exports.
Sources also report that big plants like JSW steels and JSW Ispat are procuring good quantity of fines from Odisha to feed their plants based in Karnataka and Maharastra.
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