India's iron ore export to China may stay steady
Reuters, Hong Kong
India's iron ore exports to China are likely to stay steady at up to 44 million tonnes this year, despite a drop in orders due to Beijing's efforts to cool the steel sector, an industry official said Wednesday."Demand (from China) is picking up since October. Now we can safely say (2004) exports to China will reach a similar level to last year," Glenn Kalavampara, joint secretary of the Goa Mineral Ore Exporters' Association, said. India, the world's number three exporter of iron ore after Australia and Brazil, produced 120 tonnes of iron ore last year and planned to boost annual output by more than 50 percent to 185 to 190 million tonnes by 2010 or 2011, he said. India exported 62 million tonnes last year, including 42 million tonnes to China, now the world's biggest producer of crude steel. While Chinese total iron ore imports are likely to exceed 180 million tonnes this year, up 21 percent from 148 million last year, Kalavampara said Indian exports were partly restricted due to problems such as port congestion. He said talks were under way on investment over large reserves in Jharkhand, Orissa and Chattisgarh. "In 2010 or 2011, we expect this (Indian crude steel output) to double up from 32 million to 60 million, which means iron ore requirement would go up from 55 to 100 million," he said. "But we are planning to produce around 185 to 190 million tonnes, which means around 100 million will go to India and roughly around 80 to 85 million could be exported." South Korean steel maker Posco Ltd., the world's fifth-largest steel maker, was interested in the new iron ore mines, he said.
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