Business Standard reported that after seeing a record rise in 2012-013, India’s iron ore imports have plunged to a 5 year low so far this financial year.
In the first 11 months of 2013-14, steel mills and sponge iron makers together imported 420,000 tonne of iron ore, primarily lumps, a decline of 86.2% compared with 3.05 million tonnes in 2012-13.
Various factors such as depreciation of the rupee against the dollar, higher prices in the spot market and improved supply in the domestic market contributed to the decline in imports
Source:- steelguru.com
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