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14th International Exhibition and
Conference on Minerals, Metals, Metallurgy
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27 - 29 September, 2024, Yashobhoomi, Dwarka, India International Convention & Expo Centre (IICC), New Delhi

Increase in India's export duties on iron ore, pellets to raise costs for steel mills: Moody's

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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.
Increase in India's export duties on iron ore, pellets to raise costs for steel mills: Moody's
However, strong domestic steel demand provides arbitrage opportunity for a portion of such exports to be diverted for domestic finished steel production, Chaubal told Reuters over e-mail.

The government raised export tariffs on new iron ores and concentrates to 50% from 30%, and duties on pellets to 45% from zero. The government also removed import tariffs on coking coal and coke.



Source: https://economictimes.indiatimes.com/industry/indl-goods/svs/metals-mining/increase-in-indias-export-duties-on-iron-ore-pellets-to-raise-costs-for-steel-mills-moodys/articleshow/91739359.cms


This Post was originally published on economictimes.indiatimes.com

 
 

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