India iron-ore exports may fall
Tuesday, 1 September 2009
NEW DELHI, Aug. 31 (Bloomberg): India's iron-ore exports this month may decline 5 per cent to 10 per cent as China cuts purchases, a minerals industry group said.
Enquiries from buyers of the main raw material used to make steel have dried up in the last 15 days, R.K. Sharma, secretary general of the Federation of Indian Mineral Industries, said today in a telephone interview from New Delhi. Exports rose last month, compared with the same period a year earlier, he said.
China's stockpiles of iron ore to make steel are at 75 million tons, just 0.6 per cent below levels last September, when they rose to the highest since at least 2006. Chinese buyers purchased iron ore at $86 a ton last week, compared with a peak of $105.90 this year, according to The Steel Index.
Enquiries from buyers of the main raw material used to make steel have dried up in the last 15 days, R.K. Sharma, secretary general of the Federation of Indian Mineral Industries, said today in a telephone interview from New Delhi. Exports rose last month, compared with the same period a year earlier, he said.
China's stockpiles of iron ore to make steel are at 75 million tons, just 0.6 per cent below levels last September, when they rose to the highest since at least 2006. Chinese buyers purchased iron ore at $86 a ton last week, compared with a peak of $105.90 this year, according to The Steel Index.