Thu. Jun 30th, 2022

According to foreign media reports, the Karnataka iron ore industry is a 10-year price mechanism restriction on the local social and economic development. Karnataka is the only state in India limiting exports, and the market is unilaterally open, about 3.2 million tons of imports. The yield of the state is 42 million tons, with an annual demand of 37 million tons, which causes artificial for request and forces private miners’ price reductions below the market level. At present, Karnataka did not sell iron ore inventory of approximately 4.25 million tons. With the growth of global iron ore, the price is as high as $ 122 per ton, NMDC, Indian iron mine producer, lowered its iron ore price of $ 6.73 / ton, which makes Karnataka 72.5% iron ore price drop To $ 43.48 / ton. However, at the same time, ODISHA’s miners increased their iron ore prices per ton and sold iron ore with $ 96.61 / ton. The iron ore industry in Karnataka is affected by the pricing model of iron ore giant NMDC. The exports of Karnataka are restricted, and the miners do not have any other way to sell their iron ore, which will only sell in India in India in accordance with NMDC pricing models.