India iron ore exports up by 2pct YoY.

According to data released by the Association of Iron Ore Exporters, iron ore exports in July totaled 5.9 million tonnes an increase of 2% over July 2008. During April to June 2009-10 exports clocked 26 million tonnes the same as in 2008-09.

According to the study, the exports rose by around 5.4% in July from 5.6 million tonnes in June. The export growth comes at a time when the Finance Ministry is considering a 10% levy on export of iron ore as proposed by the Steel Ministry to ensure availability of ore to domestic steel makers.

Mr RK Sharma secretary general of Federation of Indian Mineral Industries said that "Demand for ore is coming mainly from small steel makers in China, who are dependent on the raw material sold in the spot market.”