Steel Ministry not in favour of lowering iron ore export duty
The Steel Ministry not in favour of lowering iron ore export duty The steel ministry is not in favour of slashing export duty of 30 per cent on <g data-gr-id="78">high grade</g> iron ore, a key ingredient in steel making, a top government official said on Wednesday. “We are not in favour of reducing the export duty on <g data-gr-id="81">higher</g> grade of iron ore from 30 per cent,” Steel Secretary Aruna Sharma told reporters on the sidelines of an event organised by the Indian Chamber of Commerce here. The mining industry has been pushing for a reduction in <g data-gr-id="83">export</g> of iron ore with Fe content of over 58 <g data-gr-id="88">per cent</g>, saying there is already a huge stock of unsold <g data-gr-id="87">ore</g> lying in Odisha and Chhattisgarh with no domestic buyers. Reducing the export duty will make iron ore viable to sell in the international market. Industry estimates that around 85 million tonnes of the ore <g data-gr-id="84">is</g> lying unsold.