| Date: |
10-03-2011 |
| Subject: |
Mormugao Port February Iron Ore Exports Down By 4 Pct |
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Iron ore exports from India's largest port of Mormugao fell 4.2% in February from a year earlier to 4.5 million tonnes, as higher taxes and an export ban from a southern state looked set to weigh further on shipments.
A Mormugao port official said exports from April 2010 till date was at 36.7 million tonnes, a tad higher from the year ago shipments of 36.2 million tonnes, which included iron ore from neighbouring Karnataka state before it imposed an exports ban.
India hiked the export duty on iron ore to 20% on lumps and fines from the earlier 15% and 5% respectively in last month's federal budget.
Federation of Indian Mineral Industries said that India's overall iron ore exports had showed a decline for a seventh month in a row in January.
Source : steelguru.com
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