Deutsche Bank: Iron ore supply not increase even India’s Karnataka lifts ban on exports::
According to report of Deutsche Bank, the supply of seaborne iron ore might not increase even Karnataka state lifts the ban on exports of iron ore.
It’s known that India is the world’s third largest iron ore exporter and Karnataka state shipped out about 20 million tons of the commodity last year.
Karnataka put a ban on iron ore exports since last July to ensure the sufficient supply to the local market.
However, Indian’s Supreme Court currently ruled to lift the ban and resume the shipment on April 20th, 2011.
Nevertheless, industry sources indicated even Karnataka state withdrew the ban on iron ore exports, the iron ore exports from Indian would still be limited by the coming of the raining season.
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