Govt scraps 5% export duty on iron ore pellets

The government has scrapped a 5 per cent duty on exports of iron ore pellets to make overseas shipments competitive amid a sharp fall in the world price of the steelmaking raw material, a government order showed on Tuesday.

"This would improve capacity utilization of pellet plants and give necessary boost to (the) sector," Steel and Mines Minister Narendra Singh Tomar tweeted.

(Reuters)