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Rising iron ore prices combined with a depreciating rupee have prompted Indian exporters to start shipping iron ore fines and pellets, Business Standard reported.
Rising iron ore prices combined with a depreciating rupee have prompted Indian exporters to start shipping iron ore fines and pellets, Business Standard reported.
As quoted in the market news:
“Exporters were holding on to their stocks since a month in anticipation of a cut in export duty by the government. As prices have improved abroad, they have started booking export contracts to benefit from the rupee depreciation,” said Prakash Duvvuri, head of research, Ore Team, a mining and metal information website.