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ICRA: Indian pellet rates to drop 30% in reaction to export tax

Gangya Metal45 people have read

India's iron ore pellet prices are most likely to undertake a modification by as long as 30 percent in response to the federal government's just recently imposed 45 percent export tax, score firm ICRA said in a record on Tuesday, June 28. Subsequently, the payment margins of merchant peppgi ppglllet players are anticipated to decline about by INR 1,000/ mt ($13/mt) from pre-duty degrees, the record noted."India exported even more than factory straight hot rolled steel coil rate suppliers11 million mt of pellets in 2021-22, representing practically 15 percent of its general pellet production and, with exports becoming unviable, market property utilization will be adversely affected, and domestic pellet rates will certainly come unGangya steelder stress moving forward," the report stated.

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