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India's imposition of higher export tax on iron ore and various intermediate products such as pellets will raise costs for steel mills, Kaustubh Chaubal, vice-president, corporate finance group, Moody's Investors Service, said on Monday.

The increase in export taxes on iron ore, announced by the Indian government over the weekend, will lead to large surpluses at home, and mainly hit producers of low grade ores that depend on overseas markets, a mining industry body said on Monday.

The domestic steel sector has been "hit by a moving train," ratings agency Icra said reacting to the duty-related measures taken by the government.

The government has waived customs duty on the import of some raw materials, including coking coal and ferronickel, used by the steel industry, a move which will lower the cost for the domestic industry and reduce the prices.

JSW Infrastructure has started commercial operations at the Paradip East Quay coal terminal in Odisha, developed at an investment of around Rs 1,300 crore. The fully-mechanised terminal at Paradip Port has an annual handling capacity of 30 million tonnes.

Domestic copper prices, which had increased sharply over the past year, may drop gradually to average Rs 720-725 per kg in 2022-23, Crisil said on Thursday. The price of copper wire bars averaged Rs 738 per kg (ex-factory) in FY22, a 42 per cent rise year-on-year, with rates breaching Rs 800 per kg in March before retreating to Rs 790 per kg.

New Delhi: After a gap of almost two years, all regular international flights are likely to resume within a month and will follow the standard operating procedures effective at Indian airports for foreign arrivals and departure, as per information provided by government sources on Monday.