Anglo American Triples Iron Ore Sales to India

Reuters reported that Anglo American (LSE:AAL) has tripled its exports to the Indian subcontinent over the past year as India embarks on an urbanisation drive.

As quoted in the market news,

India’s iron ore imports jumped to a record high above 15 million tonnes in the fiscal year to end-March as tumbling global prices and limited domestic supply pushed steelmakers to buy more of the raw material overseas.

Trotter expects India to account for 20 percent of Anglo American’s iron ore sales over the next two to three years, a significant but not equally stellar rate of sales growth.

Click here for the full Reuters report