Indian steelmaker JSW Steel has Monday hit back at a parliamentary request made to the country's finance ministry late last week to do away with the 5% export duty on iron ore pellet, calling instead for the tariff to be raised to 30% -- the level imposed on iron ore fines.
The parliamentary request against the tariff was made by the Pellet Manufacturers Association of India and is also championed by state-owned pellet producer KIOCL, in reaction to the January 27 imposition of the 5% pellet export duty by the finance ministry.
JSW Steel's director of commercial and marketing, Jayant Acharya, told Platts Monday that the company and other local steelmakers have long been complaining of a shortage of iron ore and that Indian producers export the ore in the form of pellet.
"Environmental issues and [the adoption of] sustainable mining practices has kept many Indian mines from fully opening," the official said. "So there is still a shortage of iron ore in general, especially since a lot more fines material is being converted to pellet at a low cost of $10-15/mt."
Source:- platts.com
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