Metal & Mineral Trading Corporation (MMTC), one of the major global players in the minerals trade and single largest exporter of minerals from India, had invited interested overseas buyers for purchase of 40,000 MT friable chrome ore (50/48% Cr) of Indian origin through its export tender.
However, the company has decided to cancel the tender. This decision has mostly come in with the re-imposition of export duty on chrome ore and concentrate.The material has been offered by Tata Steel Paradip Port basis.
Indian government waived off 30% export duty on Chrome ore in 2017 Budget but after protest from Ferro alloy producers it was re-imposed to 30%.
The last chrome ore export tender of 20,000 MT was concluded at USD 189/MT FOB Paradip port according to sources.
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