Rising export tariffs might make India’s iron pellets exports turn to zero
Views : 302
Update time : 2022-05-25 21:43:13
The Indian government announced that the export duty of iron pellets was raised to 45%, and it will make the price in China high. China was the leading country that most imported iron pellets from India. As a result, India’s iron pellets exports might decrease to zero.
China’s iron pellets import from India totaled around 11 million tons from 2021 to 2022 and accounted for almost 70% of total India’s iron pellets exports. Therefore, steel mills in India will be out of the competition because of increasing export duties. As a result, some iron pellets manufacturers might go out of business due to a reduction in output.
