2.5% import duty waiver on iron ore lumps a cost relief for steel mills

The move is likely to facilitate greater ore availability to steel mills post March 31, 2020 when licences of many merchant mines expire

The waiver of 2.5 per cent duty on imports of iron ore lumps, fines and pellets can bring much relief to the domestic steel makers after March 2020, when merchant mines across the country are headed for expiry.

A report by Icra Research says the sluggish pace of auctions of mineral blocks could cast uncertainties on iron ore supplies after the lease validity of the merchant mines ceases. The deficit in iron ore is pegged