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Iron ore imports shoot up 80%, exports plunge by almost half in last 3 yrs

However, the export outlook has improved in the last few months after a blast at Vale's mines in Brazil shut off 70 million tonnes in annual supplies

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Jayajit Dash Bhubaneswar
The country's iron ore imports are steadily closing in on exports, trends in the past three years show.

From 7.09 million tonnes (mt) in 2015-16, imports have spiked to 12.8 mt at the end of FY19, data released by the Union commerce ministry reveals. In contrast, exports of key steel-making ingredients have subsided from 30.48 mt to 16.19 mt in the comparable period, plummeting by 46.88 per cent.

Imports of iron ore were driven by shore-based steel plants, which prefer to import more of higher grade ore. These plants imported larger quantities when the landed cost of the raw material
Topics : Iron Ore

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First Published: Jun 27 2019 | 6:40 PM IST

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