Iron ore exports more than doubled to 9.3 mn tonne in Oct

NEW DELHI: India's iron ore exports more than doubled to 9.3 million tonne in October this year as compared to 4.4 million tonne in the same month a year ago on the back of increase in demand from Chinese steel producers, as per a joint study by a group of iron ore exporters.

Iron ore is a key input in steel making. The country’s iron ore exports during April-October period grew 20% over the year ago period to 53 million tonne, as per the study conducted jointly by Goa Mineral Ore Exporters Association, Kudremukh Iron Ore Company and government owned trading house MMTC.

India produces close to 200 million tonne of iron ore every year, half of which is exported. Around 80% of the country’s ore exports go to China, while the rest goes to Japan and Korea.

Top iron ore exporters in the country include Sesa Goa, MSPL, Roongta Mines, Chowgule and Mineral and Metal Trading Corporation.