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India considers raising iron ore import tariffs

India considers raising iron ore import tariffs
Issue Time:2019-01-16

On January 16th, it was reported that India’s Karnataka ChiefMinister HDKumaraswamy recently sent a letter to the Central Committeerequesting to increase Indian iron ore import tariffs to ensure the developmentof domestic mining. The Indian authorities have put the matter on the agenda.Discuss. Mining related departments are also listening to opinions from steeland mining companies.

The Chief Minister stated that Indian domestic steelcompanies imported high-quality iron ore from foreign countries, which led tothe accumulation of iron ore in the country due to the inability to consume itin time. Import tariffs are currently as low as 2.5%, causing Indian steelcompanies to turn their attention to imported iron ore.

Previously, the Indian Mining Union (FIMI) also urged thecentral authorities to take measures to allow Kabon iron ore exports andincrease iron ore and pellet import tariffs to 30%.

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