India may raise iron ore export tax
According to recent report, India may consider to increase exports tax rate of iron ore in order to boost supplies and help to deduce price, the steel minister said on Monday.Several major steelmakers also urge fro tax rise from 15% to 35% in order to lower input costs since the government asked for no steel price hike for months.
Figures show that India exported around 93 million tons of iron ore in the fiscal year ending March 2007, in which about 75% exports to China.
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