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Indian Karnataka not issues permits to export iron ore – 11 Jul 11

Reportedly, after a ban on shipments of the steelmaking raw material was revoked, Karnataka has not issued permits to export iron ore more than two months.
A mining company said that around there were around 25 million tons of iron ore in stockyards and they’ve all faced the risk of a rain caught. Furthermore, the amount of delayed iron ore nearly equals to total number of ore export from Karnataka.
However, the delay in resumption of shipment seems not to affect the iron ore prices due to slowdown of China’s construction in summer and an increase of cargo import from Australia and Brazil, trader indicated.
( Source: www.yieh.com )
Jul 11, 2011 09:23
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