 "Record international iron ore prices spur lower grade exports from India")
At over $100 a tonne, the global price of iron ore’s higher grades is now the highest in five years, kindling hope of revival in export of lower grades of ore from India. Export of iron ore of up to 58 per cent ferrous content (58-Fe) attracts zero duty. Traders say once the price of this baser grade of ore breaches $70 a tonne, export becomes viable.
Odisha alone has in excess of 100 million tonnes of inferior grade iron ore accumulated at mine heads; this ore lacks takers in India. More such inventory is piling up in Jharkhand; the two
