Indian Steel Mills Seek Iron Ore Export Ban as China Sales Jump
- Second-tier steelmakers ask the government to take action
- Exports surged last year as Chinese buyers snap up cheaper ore
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Smaller steelmakers in India are pressing for a ban on exports of iron ore, after a surge in sales to Chinese mills pushed up local prices.
Indian exports jumped 170% to 44 million tons last year — most of which went to China — at a time when domestic demand for the raw material is rising. That’s prompted the worst-affected sections of the industry to seek restrictions from the authorities to protect their margins.