India's iron ore imports on a decline as prices rise

摘要

Amid escalating international prices iron ore imports by India plunged 90 per cent (by volume) during the April-October period this fiscal as steel makers opted for domestic sourcing. This is the lowest level of imports recorded in the past seven years, a study by CARE Ratings said. In the comparable period of the last fiscal, iron ore imports surged 172 per cent. However, FY20 has seen a contrarian trend in imports as iron ore prices stayed elevated.