May lower iron ore export duty: steel Minister N S Tomar

The Steel Ministry on Wednesday said it may think of lowering export duty of iron ore from the present rate of 30 per cent if the prices of the key steel-making raw material remain subdued. ‘We have not given a thought on this but, if the current situation continues in the coming days, we will have to think on this,’ Steel and Mines Minister Narendra Singh Tomar said.  

The international price of the raw material, which is now ruling at its five-year low at $75 per tonne, has led iron ore exports unviable for the domestic producers.