Iron-Ore Supplies Unlikely to Rise for Now, Deutsche Bank Says

Bloomberg reports that seaborne supplies of iron ore are unlikely to rise for now even after India’s Karnataka state lifted a ban on exports of the steelmaking ingredient.

The market news is quoted as saying,

India is the world’s third-largest iron-ore exporter, and Karnataka shipped about 20 million metric tons of the commodity last year. The state barred overseas sales in July to boost supplies to local steelmakers. Outbound sales could resume as of April 20, India’s top court ruled this month.

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