After removal of export tax on steel & iron ore on 19 November, India's largest iron ore producer state-controlled NMDC has increased its iron ore prices by INR 300 per tonne, restoring them to mid-November levels, at INR 4100 EX Mine for 65.5% lumps & at INR 2910 for 64% fines.The Indian government removed the export duties on steel products and iron ore imposed in late May effective from 19 November. With the announcement export duties on iron ore lumps and fines with less than 58% Fe and iron ore pellets were reversed to nil compared with the 50% and 45% duties, respectively, levied earlier in the year. Duties on iron ore lumps and fines of more than 58% were reversed to 30% from the 50% imposed in May.
After removal of export tax on steel & iron ore on 19 November, India's largest iron ore producer state-controlled NMDC has increased its iron ore prices by INR 300 per tonne, restoring them to mid-November levels, at INR 4100 EX Mine for 65.5% lumps & at INR 2910 for 64% fines.The Indian government removed the export duties on steel products and iron ore imposed in late May effective from 19 November. With the announcement export duties on iron ore lumps and fines with less than 58% Fe and iron ore pellets were reversed to nil compared with the 50% and 45% duties, respectively, levied earlier in the year. Duties on iron ore lumps and fines of more than 58% were reversed to 30% from the 50% imposed in May.
