MMTC iron ore exports fall
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The chairman of India's MMTC, the largest state-run trading firm dealing with iron ore, said export prospects for the mineral appeared bleak, with hardly any buyers on the horizon. ''The spot prices from India have fallen by 50 per cent to $75 per tonne from $150 in December 2007, but still there are no buyers,'' Mr Sanjiv Batra said. ''China has slowed down considerably.'' China is India's biggest buyer of its annual iron ore exports of about 100 million tonnes. Iron ore exports in September alone fell 44 per cent to about 3 million tonnes, from a year ago, Mr Batra added.
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Source : Business Line |
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