SteelOrbis Shanghai
On June 13, the Indian Ministry of Finance announced the imposition of a 15 percent ad valorem duty on all iron ore exports, following the long-standing rumors that India was set to increase its export tariffs for this raw material.
Up to now the duties levied on India's iron ore exports have stood at Rupees 300/mt ($7/mt) on lumps and fines with iron content over 62 percent, and at Rupees 50/mt ($1.16/mt) on iron ore with iron content up to and including 62 percent.