Press Esc to close
Monday 26 September 2016
News updated at 2:20 AM IST
Weather
Max: 25.8°C
Min : 19.6°C
In Bengaluru
Generally cloudy

Iron ore imports sink 78% in Q1

New Delhi, jul 16, 2013, Reuters:
Reuters Image

India's iron ore imports plunged 78 per cent in the April to June quarter from a year earlier, according to provisional data from government sources, as domestic supply rose and exports fell.

The shipment data, coupled with a 9.1 per cent drop in iron ore imports by top buyer China in June, is expected to drag on global prices of the steel-making raw material that have already shed more than 12 percent so far this year.

India has historically produced enough iron ore to meet its domestic demand, but imports by Asia's third-largest economy tripled to 3 million tonnes in the year ended March 31 after output from top producing states Karnataka and Odisha fell due to a court-mandated clampdown on illegal mining.

Production has since picked up following steps such as mining outside allotted areas. A 30 per cent duty on exports made more iron ore available.

India imported 185,113 tonnes of iron ore in the quarter ended June 30, according to figures from the agency that tracks the data, down from 826,372 tonnes a year ago.
Final data is expected by end-August, said the official at the DGCIS.

India was third-largest exporter of iron ore globally, shipping about 98 million tonnes, or 47 per cent of total production, in fiscal 2011.

The country's output of iron ore is estimated to have fallen to about 140 million tonnes in the year ended March 31, from 207 million in 2011, after a ban on mining in Karnataka and Goa. Output was 167.3 million tonnes for fiscal 2012.


Go to Top

Photo Gallery
Prime Minister Narendra Modi during BJP's National Council Meeting at Kozhikode...

Prime Minister Narendra Modi during BJP's National Council Meeting at Kozhikode...

Cyclists take part Cyclothon 2016 held on world car free day in Gurgaon...

Cyclists take part Cyclothon 2016 held on world car free day in Gurgaon...

Artists practice Garba in Ahmedabad...

Artists practice Garba in Ahmedabad...

School students at 'Mother Walk' rally to commemorate the canonization of Mother Teresa in Kolkata

School students at 'Mother Walk' rally to commemorate the canonization of Mother Teresa in Kolkata

Maratha community members hold a protest rally demanding justice for Kopardi rape victim...

Maratha community members hold a protest rally demanding justice for Kopardi rape victim...

An aerial view of the flood hit Edupalaya village in Medak district of Telangana...

An aerial view of the flood hit Edupalaya village in Medak district of Telangana...

Indian and U.S. army soldiers take part in an Indo-US army joint combat exercise in Ranikhet...

Indian and U.S. army soldiers take part in an Indo-US army joint combat exercise in Ranikhet...

St Patrick Church celebrating 175th anniversary in Museum Road, Bengaluru...

St Patrick Church celebrating 175th anniversary in Museum Road, Bengaluru...

Army personnel arrive to help flood affected people in Hyderabad...

Army personnel arrive to help flood affected people in Hyderabad...

Prime Minister Narendra Modi with BJP President Amit Shah wave to the crowd at public rally...

Prime Minister Narendra Modi with BJP President Amit Shah wave to the crowd at public rally...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523