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India not rule out possibility to ban iron ore export

27 Nov 2020 15:52 reported by Donna Huang

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According to reports, Union Minister Dharmendra Pradhan said at MCCI annual conference that India didn't rule out the possibility to ban iron ore exporting temporarily.

The representatives from the iron and steel industry are seeking help from the ministry of steel to solve the problem of the shortage of iron ore.

One steel mill in India said they met the crazy price increase of iron ore this year and said they almost can find no any supply in the local market, but there is a lot of raw material exported. Pradhan said they are communicating with other related sectors about stopping export.

From the data of the World Steel Association, India’s output of iron ore in the 2019 financial year was about 36.43 million tons, about 30.8 million tons of which were exported to China.

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