Foundry Informatics Center, New Delhi

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India to offer Iron Ore for Metcoke to China

The Indian industry has been representing with the Govt. for last 3 years to find mechanism to ensure bartering iron ore with Metcoke from China as China has been holding supplies of metcoke while sourcing iron ore increasingly from India. The issue was taken up recently by The Commerce Minister of India with the Chinese counterpart during the meeting in Beijing. It was made clear by the Indian side that it will not be fair to expect favourable trading regime for iron ore if the restrictions on export of metcoke are not eased by the Chinese.

China had canalized the export of metcoke for India & had put quantity restrictions. India has sought removal of canalization & asked to increase quantity of exports from present 3 to 5 million MT. The Chinese side in turn asked for removal of export duty on iron ore imposed by Indian Govt. to restrict export of iron ore. Since the imposition of import duty on iron ore, the export of iron ore has reduced by approx 1 Million MT.

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