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Iron ore imports sink 78% in April-June

The country's output of iron ore is estimated to have fallen to about 140 million tonnes in the year ended March 31

Reuters  |  New Delhi 

 India's iron ore imports plunged 78% in the April to June quarter from a year earlier, according to provisional data from government sources, as domestic supply rose and exports fell.   The shipment data, coupled with a 9.1% drop in iron ore imports by top buyer China in June, is expected to drag on global prices of the steel-making raw material that have already shed more than 12% so far this year.   India has historically produced enough iron ore to meet its domestic demand, but imports by Asia's third-largest economy tripled to 3 million tonnes ...

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First Published: Mon, July 15 2013. 10:50 IST