Strong drop in India’s iron ore exports to China in October

Tuesday, 23 November 2010 17:19:13 (GMT+3)   |  

According to data issued by Chinese customs, in October this year the iron ore exported from India to China dropped to a 6.4 percent share of China's overall iron ore imports, compared to a 20 percent share at the beginning of 2010. 

In October, India exported 2.91 million mt of iron ore to China, down 44 percent year on year and declining by 39 percent month on month. The main cause for the decrease has been the ban of the government of the Indian state of Karnataka on iron ore exports. Karnataka state previously produced a quarter of all Indian iron ore exports to China.

Meanwhile, at the 10th China International Steel and Raw Materials Conference, it was predicted that within 10 years India's overall iron ore exports will drop to 75 million mt per year, compared to 115 million mt in 2009.

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