India scraps export tax on low grade iron ore, some steel intermediates

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2 weeks ago
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India scraps export tax on low grade iron ore, some steel intermediates

NEW DELHI, Nov 19 (Reuters) - India scrapped an export tax levied on low grade iron ore lumps and fines with below 58% iron content, in a notification late on Friday, reversing an earlier order from May when it had raised the tax to a steep 50% to rein-in inflation.

In the notification, which takes effect on Saturday, the government also removed export tax on some steel intermediates from 15%, also imposed in May.

https://www.reuters.com/markets/commodities/india-scraps-export-tax-low-grade-iron-ore-some-steel-intermediates-2022-11-18/