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Indian iron and steel Minister: possibility of banning iron ore export

2020-12-18   

In view of the shortage of iron ore in the domestic market, India's joint steel minister, Dharmendra Pradhan, told the MCCI's annual meeting that the possibility of banning iron ore exports was not ruled out.

 

At the meeting, representatives of the steel industry sought the intervention of the Ministry of iron and steel of India to solve the problem of ore shortage.

 

"There has been an unprecedented increase in iron ore prices this year and there is little supply in the domestic market," said a steel mill in India. Many of the iron mines that have been auctioned recently have not been put into operation, and our steel mill's stock can only last for 15 days. We can't buy ore at home, but exports continue. "

 

Pradan replied that stopping exports is a good idea and is now in communication with stakeholders


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