India Will Adjust the Iron Ore Export Tax Structure

    Under India's current export tariff structure, iron ore withan iron content of over 58% is classified as "high grade" subject toan export duty of 30% and low grade iron ore with an iron content of less than58% tariff.

    Although the council has yet to announce its final opinion,sources say the Indian Ministry of Mines will set up a "medium gradeiron-ore fines" system, targeting between 58% and 62% of the grade Ironore, the government will reduce or eliminate export tariffs, while the highiron ore content of more than 62% of iron will continue to impose a 30% highexport tax.

    Although the council has yet to announce its final opinion,sources say the Indian Ministry of Mines will set up a "medium gradeiron-ore fines" system targeting between 58% and 62% of the grade Ironore, the government will reduce or eliminate export tariffs, while the highiron ore content of more than 62% of iron will continue to impose a 30% highexport tax.