Indian steel and iron ore industry players have reportedly asked their government to remove a 15 percent duty on iron ore exports on account of the recent sharp decline registered in steel prices and also due to the sagging demand for steel.
Meanwhile, in early September the Indian Minister for Steel Ram Vilas Paswan had stated that the Indian government was mulling over a higher iron ore export duty to ensure the availability of this raw material to domestic steelmakers.
India's iron ore export duty was introduced in June in order to ensure stable supplies for the domestic steelmaking industry.