The Federation of Indian Mineral Industries (FIMI) has announced that Indian iron ore exports in the April-July period of the current year decreased by 22 percent year on year due to the iron ore export ban in the Indian state of Karnataka.
In July alone, Indian iron ore exports fell 23 percent year on year to 3.6 million mt, the largest year-on-year decrease rate since April this year. FIMI secretary general RK Sharma stated the main reason for the decrease was the iron ore export ban in Karnataka, while the rainy season was another reason.
The FIMI expects Indian iron ore exports will decrease from 98 million mt in the fiscal year 2010-11 (ended March 31, 2011) to 75 million in the current fiscal year