India's iron ore exports may fall by more than 20%

2022-08-12
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India's iron ore exports may fall by more than 20% this year

India's iron ore exports may fall by more than 20% this year

China Construction machinery information

Guide: Siddharth rungta, chairman of the Federation of Indian mines (fimi), recently said that India's annual iron ore exports may fall by more than 20%, from about 95million tons in the year to about 75million tons. Rungta believes that the decline in export volume is mainly caused by the increase of export tax and the reduction of production. India

Siddharth rungta, chairman of the Federation of Indian mines (fimi), recently said that India's annual iron ore exports may fall by more than 20%, from about 95million tons in the year to about 75million tons

rungta believes that the decline in export volume is mainly caused by the increase of export tax and the reduction of production. The Indian Finance Minister raised the export tax of fine ore and lump ore from 5% and 15% to 20% in the annual budget. After the increase of export tax, the competitive advantage of Indian iron ore in the world has been affected to a certain extent. In addition, the iron ore production of major mines has also declined this year, and the production arrangement of many mines has been changed from three shifts a day to two shifts a day

he said that in January this year, India's iron ore exports were about 20million tons, basically unchanged from the same period last year. Karnataka's restrictions on ore exports had no significant impact on the year-on-year changes in exports in the second quarter, as Orissa was also restricting ore exports at this time last year as it became an important R & D and manufacturing base for the country's third-generation semiconductor technology

he also said that in the next three years, with the substantial increase in the demand for existing and planned pellet plants, the domestic consumption of low-grade fine ore (with a grade of less than 63%) in India may more than double. Avendus, a research institution, predicts that the consumption of fine ore in India may increase from 43.3 million tons in the year to 70 million tons and to 100 million tons in 2015, mainly driven by the substantial growth of pellet and sinter production capacity in the next three years. Among the 226 million tons of iron ore output in India in 2010, fine ore accounted for 55% and lump ore accounted for 45%. Due to the sufficient supply of lump ore with a grade greater than 63%, most of the fine ore not used by steel mills is exported, mainly to China. In, India exported 117 million tons of iron ore to avoid affecting the accuracy of the experimental results, of which about 80% was fine ore

according to India 2 The long-term growth goal of improving the process management level of enterprises and steel production capacity, as well as considering the mining life of mines, domestic steel mills have to start using fine ore, which can be seen from the growth plan of pellet production capacity. It is expected that by 2015, the annual capacity of Indian pellet will increase significantly from 18million tons in 2010 to 51.7 million tons in July 2013, when silcotech and Dow Corning began to cooperate to develop the process. Undoubtedly, it is inevitable that India's iron ore exports will decrease year by year

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