Iron ore exports tumble 32% in Apr-Feb on weak demand, steep export duty

Exports of iron ore pellets, too, declined 7 per cent in April-January period of last fiscal due to uncertainty in winter output cuts in China and weak inquiries from the non-Chinese markets

Iron ore exports from the country tumbled 32 per cent to 14.07 million tonnes (mt) during the April-February period of FY19. Fragile demand in the international markets, primarily China and the prevailing steep export duty of 30 per cent on higher grade ore dragged exports.

Exports of iron ore pellets, too, declined 7 per cent in the April-January period of last fiscal due to uncertainty in winter output cuts in China and weak inquiries from the non-Chinese markets. 

“Of late, demand for pellets has subsided in China as the steel makers there have shown a greater appetite for lower grade iron ore