India’s unused low grade iron ore stocks estimated at 162 million mt

Friday, 04 September 2020 15:27:18 (GMT+3)   |   Kolkata

Around 162 million mt of lower grade iron ore lumps and fines are lying unused currently at pitheads across the country, in the absence of any takers from steel mills or pellet producers, according to a statement issued by the Federation of Indian Mineral Industries (FIMI).

According to the apex body representing miners, of the 162 million mt of low grade lumps and fines (Fe content 58-62 percent), 137 million mt are lying in the two largest iron ore-producing states of Odisha and Jharkhand in the east.

“Neither are integrated steel mill, sponge iron producers or pellet manufacturers purchasing these iron ore stocks, nor are they being allowed to be exported,” FIMI said. “Domestic steel producers are creating an unwarranted scare of shortage of raw material, while they are only procuring iron ore fines and lumps of higher grade,” the federation said.

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