Indian government considers restricting iron ore exports

Indian government considers restricting iron ore exports

Indian government is reportedly considering to ban high quality iron ore exports to keep availability of the subject raw material in domestic market. As previously reported by SteelOrbis, Indian government had announced initially that it planned to restrict iron ore exports, however later on revealed that the new steel policy, which is expected to be announced in October, would not include any item that restricts iron ore exports. With a recent statement, Ministry of Commerce and Industry announced that there is strong demand for high quality iron ore, so in order to ensure domestic availability of iron ore, exports of the subject raw material should be restricted. It is also stated that certain government officials suggest restricting export of high quality iron ore but allowing export of low quality iron ore.