As domestic iron ore price rises, steel industry demands ban on its export

With higher domestic prices of iron ore and pellets hurting the secondary steel producers, the industry has written to the Prime Minister Office (PMO) asking for a ban on exports of the key raw material used in the manufacture of steel.

The domestic secondary steel industry contributes nearly 55 per cent to the total production of the alloy in the country. These players produce steel through the electrical route unlike the primary steel producers who use blast furnaces to make the alloy. The letter to the PMO was sent by the All India Induction Furnace Association on September 25, 2020.