| Date: |
21-11-2012 |
| Subject: |
Indian iron ore export to China may fall to 32 million - Mr UN Redkar |
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According to Mr UN Redkar China representative of Essel Mining & Industrie, Indian iron ore shipments to China in 2012 is likely to fall 30 million tonnes from a year before to around 32 million tonnes and will move India from the third largest oversea supplier to China.
Mr Redkar said that iron ore export limits is ongoing and will continue to impact.
Indian was the second biggest supplier to China in terms of iron ore especially in 2009 when export to China peaked 107 million tonnes till it was replaced by Brazil in 2008.
Iron ore shipment to China has been falling for two consecutive years from 65 million tonnes in 2011 the year when Indian announced limits on iron ore exports.
In 2012, India export 73 million tonnes of iron ore to China, taking 10.65% in seaborne deliveries to China. If export in 2012 is 32 million tonnes as expected by Mr Redkar, it represents a decline of around 44% on annual basis and a revision from 65 million tonnes estimated earlier in April.
Source : steelguru.com
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