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India may postpone iron ore exports to China

Mr. Rana Som, the chairman and managing director of state-run National Mineral Development Corporation (NMDC) currently said that the country might postpone iron ore exports to China within next five years.

Accordingly, it will offer Australian miners 100 million tons of market share and support iron ore prices.

Besides, he added that Indian will not import iron ore in the short term and the country will recede from the international iron ore market gradually, bring more export spaces for Australian miners to export to China and Japan.

Meanwhile, India’s iron ore exports to China have decreased 90 million tons up to date this year from the highest level of 123 million tons in 2009.

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