Export Duty on Iron Ore

Press Information Bureau

Government of India

Ministry of Steel

26-November-2012 17:2 IST

The Minister of Steel, Shri Beni Prasad Verma has said that according to global rankings released by the World Steel Association (WSA), India was the 4^th largest crude steel producer in the world in 2010, 2011 as also during January – September 2012. The details of global rankings of producers in terms of crude steel production during January – September 2012 is given below:- 

In a written reply in the Lok Sabha today Shri Verma said, to discourage export of iron ore and to improve availability of iron ore to domestic iron and steel industry at affordable price, the Government has increased the export duty on iron ore from 20% ad valorem to 30% ad valorem on all grades of iron ore (except pellets) with effect from 30-12-2011.

He said, Steel is in a deregulated sector in the country and domestic prices of steel are decided by the individual producers based on market conditions including demand supply scenario, international price trend, cost of raw materials and inputs etc.  It is, however, mentioned that the steel prices have shown a downward trend during the present financial year as shown in the table below:-

JPC  INDICATIVE MARKET PRICE  -  DELHI

                                                                                                                        Rs. Per tonne

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