Author: 16 Apr 2012 Last updated at 07:38:46 GMT

India Iron Ore exports likely to decline to 50 Mmt in 2012-13: FIMI

MUMBAI (Scrap Monster): India's iron ore exports are likely to decline to 50 million metric tons (Mmt) in 2012-13, said Federation of Indian Mineral Industries (FIMI).

According to FIMI, exports are likely to be hit by high export duty, railway freight charges and mining ban in Karnataka.

India exported 117.3 Metric Tonnes (MT) of iron ore during the 2009-2010 fiscal. This has fallen by 48% to 60 MT during the 2010-2011 fiscal. And as per FIMI Secretary General RK Sharma, India's iron ore exports will likely fall even more.

"While Karnataka ban has taken its toll, hike in duty and railway freight have further affected the exports adversely. The trend will continue and exports may not cross 50 MT mark for 2012-13," Economic Times quotes Sharma, who adds that "We have met the officials in mines, steel, commerce, finance and railways to ensure remedial measures else it will be hard for the iron ore industry to recover.”

METAL PRICE CHARTS

GET PRICE CHARTS

14ct Gold Scrap Price Charts

Platinum Scrap Price Charts

22ct Gold Scrap Price Charts

RELATED NEWS

Grave robbers steal Frankston cemetery plaques 'to sell for scrap metal'

May 22nd 2015 03:26 PM
Grave robbers steal Frankston cemetery plaques 'to sell for scrap metal'
Dozens of plaques have been stripped from graves in Melbourne's south-east

Scrap metal theft in Salina totals more than $22,000

May 22nd 2015 03:24 PM
Scrap metal theft in Salina totals more than $22,000
More than $22,000 in scrap metal was stolen in Salina, according to Crimestoppers

China Henan Discovers Rare Earth for the First Time

May 22nd 2015 03:13 AM
China Henan Discovers Rare Earth for the First Time
Henan's geological bureau has discovered over 100,000 tonnes of rare earth in Taiping Town

China Jiangxi Cracks Down on Illegal Rare Earth Smelting, Sales

May 22nd 2015 03:02 AM
China Jiangxi Cracks Down on Illegal Rare Earth Smelting, Sales
China's Ministry of Industry & Information Technology (MIIT) cracked down
Scrap Item Price Unit
6063 Extrusions 0.777 $US / Lb
Zorba 90% NF 0.61 $US / Lb
6061 Extrusions 0.70 $US / Lb
Old Sheet 0.54 $US / Lb
Al/Cu Radiators 1.31 $US / Lb
Old Cast 0.54 $US / Lb
Next Story