India’s largest iron ore produce National Mineral Development Corporation (NMDC) would stop exporting high-grade iron ore in case the international iron ore’s long-term agreements (LTA) continues falling to worse level.
NMDC said they will keep watching the new LTA benchmarks to be reached by international players, and the company will not consider export iron ore if the prices fall further by 40~45 percent.
The company exports around 4 million tons of high grade iron ore annually, and the steel mills in Japan and Korea take a large percentage of its iron ore export. Source: Yieh.com
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Sunday, April 19, 2009
11:54 |
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