Press Esc to close
Friday 31 July 2015
News updated at 10:30 PM IST
Weather
Max: 21°C
Min : 33°C
In Bengaluru
Partially 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
A farmer plants saplings in a paddy field on the outskirts of in Agartala...

A farmer plants saplings in a paddy field on the outskirts of in Agartala...

Leopard caught in forest department cage at CSIR premises, Manadavadi Road in Mysuru on Friday...

Leopard caught in forest department cage at CSIR premises, Manadavadi Road in Mysuru on Friday...

Actress Chitrangada Singh during the inauguration of a diamond showroom in Bengaluru on Friday...

Actress Chitrangada Singh during the inauguration of a diamond showroom in Bengaluru on Friday...

Artists from Gujarat perform a dance at the Travel and Tourism Fair at Netaji Indoor Stadium...

Artists from Gujarat perform a dance at the Travel and Tourism Fair at Netaji Indoor Stadium...

A woman prays as others take holy dips at Sangam, the confluence of the Rivers Ganges...

A woman prays as others take holy dips at Sangam, the confluence of the Rivers Ganges...

School children pay tribute to former President APJ Abdul Kalam in Gurgaon on Friday...

School children pay tribute to former President APJ Abdul Kalam in Gurgaon on Friday...

Securitymen guard parliament house during the monsoon session in New Delhi on Friday...

Securitymen guard parliament house during the monsoon session in New Delhi on Friday...

Congress Vice President Rahul Gandhi meeting agitating students of FTII...

Congress Vice President Rahul Gandhi meeting agitating students of FTII...

Dukhtaran-e-Millat activists holding placards during their protest against the hanging of Yakub...

Dukhtaran-e-Millat activists holding placards during their protest against the hanging of Yakub...

Policemen in action after a clash between BJP workers and AIIMS coordination committee members...

Policemen in action after a clash between BJP workers and AIIMS coordination committee members...

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