India increases export duty on iron ore lumps to 15 percent

Monday, 03 May 2010 17:04:44 (GMT+2)

India has raised its export tax on iron ore lumps by five percent to 15 percent, international news sources report. In recent years India has changed its export tax on iron ore on a number of occasions.

This latest increase is likely to reduce shipments and increase prices of lump ore from India, in line with the government's aim to increase domestic supply.

As SteelOrbis previously reported, the Indian government increased the export duty on iron ore by five percent both for iron ore fines and lumps in December 2009, aiming to curb iron ore exports. In the adjustment in question, the government raised the export duty on iron ore lumps to 10 percent from five percent and raised the export duty on iron ore fines to five percent from nil.

 previous article  /  next article