7-Jul-2013
Business Standard reported that coinciding with the weaker rupee regime, iron ore exports from Paradip port surged nearly three times to one million tonne during the first quarter of the current fiscal against the same period a year ago.
During the three month period, 1.03 million tonnes of iron ore fines of 62 grade were exported, compared with just 371,000 tonnes shipped in the previous comparable period.
Mr RK Sharma director general of Federation of Indian Mineral Industries said that "There is no major rush of importers to book Indian iron ore. The rise in exports was just because of the weak rupee as exporters wanted to clear some stocks at ports.”
After the mining ban in Karanataka and curb on exports in Goa, east Indian ports have assumed top positions in terms of iron ore exports. A major part of 18 million tonne annual exports is being shipped from east coast ports such as Paradip, Haldia and Vizag, with Odisha contributing about 4.5 million tonnes.
Source:-www.steelguru.com
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