Indian iron ore exports to decline - industry expert
Shanghai. September 29. INTERFAX-CHINA - Indian iron ore exports are expected to decline by around 30 percent by 2020 when compared to 2010, chief executive officer (CEO) of management consultancy firm CRU China, John Johnson, said Sept. 29 at the 10th China International Steel Raw Materials Conference in Shanghai.
India accounts for an average of 20 percent of China's total iron ore imports over the last five years, Johnson said. He added, however, that increasing difficulties in acquiring mineral concessions in India, and iron ore in particular, inadequate infrastructure in the country, particularly transport, and the Indian government's restrictive policies on iron ore exports will likely see this number decline.
According to Johnson, the rapid development of the steel industry in India and its subsequent growth in steel demand and production means that Indian steel mills are likely to receive preferential treatment from their government.
- KY