India ends long-term iron ore supply agreements with Japan, South Korea
Time:Wed, 23 Jun 2021 09:24:13 +0800
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India has always been an important iron ore exporter to Japan and South Korea. Since 2018, a total of 5.5 million tons have been exported each year.
Nowadays, according to reports, India has decided not to renew the long-term iron ore supply agreement with Japan and South Korea due to factors such as the decline in iron ore production in the production area and the shortage of domestic raw materials.
Under the framework of this bilateral agreement, India supplies iron ore at preferential prices, and export tariffs can be reduced to 10%. Under normal circumstances, the export tariff is 30%.
