India to Lower Iron Ore Export Duty

 
Reportedly, India's mining sector will reduce the iron powder ore export duty from 30% to 15% in 2013 so as to secure production and export of the low-grade ore.

During April-December 2012, Indian iron ore production showed further decrease of 1.9%-2.6% year-on-year, with December output down 3.3% year-on-year.

During April-November 2012, Indian iron ore export decreased by 62% in volume year-on-year; for 2011-2012 fiscal year, the powder ore shipment totaled 60 million tons, compared with 120 million tons for 2009-2010 year.

Regarding the demand, even by 2020, when Indian iron-steel production can reach 100 million tons/year, the demand for iron ore will not exceed 160 million tons.