Tags: iron ore , raw mat , India , Indian Subcon , quotas & duties , steelmaking , South Asia | similar articles »

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has urged the Indian government to remove India's 2.5 percent import duty on iron ore lumps, fines and pellets in order to increase supply options for the domestic steel industry.
 
ASSOCHAM stated that there is still a supply shortage in raw materials causing many steel plants to operate below full capacity. The industry body welcomed the increase in export duty from 20 percent to 30 percent recently imposed on iron ore.