Concern over rising iron exports

Print this page Posted on : 06-19-2007 by recycleinme.com

Making a case for capping iron ore exports, steel makers have said export volumes of the mineral have been swelling and its prices increasing globally – threatening expansion plans of the domestic industry. “Iron ore is a non-replenishing commodity. All our expansion plans will put to hold if the country is forced to become the net importer of ore. We need to analyse what economic sense it makes for the nation to allow exporting of the mineral,” a source in the Indian Steel Alliance (ISA) told PTI. “Iron ore exporters had already increased the prices by $21 per tonne between January and May, which is an increase of 36.20 per cent. Last month, ore exports from ports were 8.01 million tones as against 7.37 mt in May 2006 amounting to a growth of 8.7 per cent. This gives them a substantial growth in their topline despite rupee appreciation,” the source said.

Source : Business Line