Translogistics

27 August, 2012 at 3:58 am in Industrial & Agricultural¹

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India has reduced the railway freight on iron ore meant for exports by 16 percent effective Tuesday, an industry body officiacoal particle size for power plant³l said, a move expected to help exporters who have come under pressure after an increase in export duty in January.

The new freight has been set at 2,425 rupees ($48.48) per tonne of iron ore, down 475 rupees from the previous freight cost, said H.C. Daga, vice president with the Federation of Indian Mineral Industries. “Exports (of iron ore) had already become unviable and this is a beginning in right direction, but it needs to be reduced much more,” Daga said. India hiked iron ore export duties to 30 percent in January to conserve supplies for its own steel industry, making shipments unviable and prompting traders to slash their export forecast for the year to March 2012. “This will help exporters reduce losses and if they reduce…

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