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Archive
News: India
The Indian Ferro Alloy Producer's Association (IFAPA) has proposed sweeping changes to customs import duties for Ferro Alloys and raw materials.
Robert Parker from Asmet will be attending IFEX 2012 in Bangalore, India on 2nd and 3rd March 2012.
India's Ministry of Commerce has raised the export duty on iron ore to 30% effective from December 30th 2011, a 50 % rise from the previous 20%.
The Indian Union Ministry of Mines has amended the Proposals for the Mines and Minerals Development and Regulation Bill 2011 to include stiff penalties to combat the major problem of illegal mining.
Indian domestic prices for directly reduced iron (DRI) have increased sharply due to continuing shortages of iron ore and coal.
The Indian Steel Ministry is calling for a complete ban on chrome ore exports to protect its limited chrome ore reserves, which are mainly located in the Sukinda valley and Boula in Orissa.
Glencore International is reported to be close to a deal for a 24% stake in India's High Carbon Ferro Chrome Producer Cronimet Alloys.
Directly reduced iron (DRI) prices in the local Indian market have increased due to the continuing iron ore shortage caused by the ongoing ban on mining in the Karnataka region of India and an increase in scrap prices. DRI production has been severely hampered by the iron ore shortage and about half the DRI plants have shut down, with the remainder working below capacity.
Officials in India are looking at adding an extra 5 to 10% onto the current export duties on iron ore of 20%.
Currently, almost half of India's iron ore production is exported and there is a fear that further increases will make Indian miners increasingly uncompetitive.
