India plans to levy on iron ore exports of 20% uniform tariff

 Indian media said the Indian government plans to start in April 1 of the 2011-2012 fiscal year to levy on iron ore exports 20% of a unified export tariffs to ensure domestic supply. Reports that the Finance Minister Pranab Mukherjee of India may announce the decision this weekend.

this might lead to further increases in the international iron ore prices, in particular India iron ore exports to China will be affected. Indian iron ore spot market is a major supplier of iron ore over the past five years, India's share in the Chinese market has been stable at around 20%.

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central Indian government decided to levy 20% of iron ore exports will not only help curb the export of stability domestic iron ore prices, but will also increase government revenue. However, analysts believe that tariffs will be passed on iron ore exporter, importer, but the move could further push up prices.

the present Government of India for different grades of iron ore levied 5-15% tariff adjustment will be unity of all iron ore exports imposed a 20% tariff.

General Administration of Customs of China data released last month, October is only India's iron ore exports to China 2.91 million tons, compared to last year dropped significantly by 44%. India's iron ore market share in China's share has fallen to less than 6.4%.

iron ore export tariffs, and new bargaining mechanism leading to significantly reduce India's iron ore exports to China of the important reasons. Although the rise for years has experienced, including CVRD, BHP Billiton and Rio Tinto Group, including the big three iron ore supply to China of iron ore at present prices are still lower than the price of iron ore in India. Indian iron ore exports to China mainly concentrated in the spot market, buyers are not very strong financial strength is mainly small and medium steel companies.

(Editing: the Ministry of Steel House information please do not reprint more information, call :021-50585712)