Mr Beni Prasad Verma minister of steel has said that the quantum of iron ore exported from India during the last two years and the price thereof is given below:
Indicative spot prices of 63.5/63% Fe iron ore fines for export to China
| Year | Volume | April | July | October | January
|
| 2009-10 | 117.37 | 48 | 68 | 68 | 90
|
| 2010-11 (Provisional) | 97.11 | 162 | 122 | 130 | 155 |
(Volume in million tonnes)
(Prices in USD per DMT FOB)
(Source: MMTC, Department of Commerce
Spot prices for shipments to China are for medium grade iron ore fines. These prices change on load port and transaction to transaction basis during the year.
In a written reply in the Lok Sabha Mr Verma said that the production of iron ore in the country is much more than that used by the domestic iron and steel industries and about 50% of the iron ore produced in the country is being exported.
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