News X
17 Nov 2017
India Considers Removing Iron Ore Export Tax
Iron Ore
In response to high domestic stockpiles, estimated at around 149 Mt, the Indian government is considering cutting or removing the 30% export tax on medium grade iron ore, Reuters reports. The tax applies to iron ore with an iron content of greater than 58% and is intended to protect supplies for domestic steelmakers. Indian iron ore exports have risen strongly this year with shipments to China, the country’s largest export market, up by 85% in January-September at 28.8 Mt.