Export Duty on Iron Ore

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..... Export Duty on Iron Ore
News and Press Release
Dated:- 26-11-2012

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 4th largest crude steel producer in the world in 2010, 2011 as also during Ja .....

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..... nuary - September 2012. The details of global rankings of producers in terms of crude steel production during January - September 2012 is given below:- Top 10 World Crude Steel Producers: January-September 2012 Rank Country Qty (mt) % change over Jan-Sept. 2011 1 China 542.3 1.7 2 Japan 81.3 0.4 3 United States 68.1 5.3 4 India 57.1 4.8 5 Russia 53.7 4.3 6 South Korea .....

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..... 52.1 3.0 7 Germany 32.4 -5.0 8 Turkey 27.1 8.4 9 Brazil 26.0 -3.0 10 Ukraine 25.10 -5.3 Top 10 965.2 1.8 World 1149.4 0.6 Source: WSA, JPC; *provisional 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 .....

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..... 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, howeve .....

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..... r, 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 TOR / TMT / CTD 10 mm HR Coils 2.00 mm CR Coils 0.63 mm April - 12 51580 49070 54100 May - 12 49620 49070 53580 June - 12 50280 49050 53580 July - 12 50000 49050 53180 Aug - 12 49650 48800 52500 S .....

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..... ept - 12 49580 48840 52780 Oct - 12 49580 48770 52580 *** NSK/DB
News - Press release - PIB .....

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