Export duty toll: Five iron ore pellet makers shut ops

Reeling under squeezed margins due to imposition of 5 per cent export duty, at least five major iron ore pellets producers have shut down their operations during the past two weeks, while others are preparing to follow suit. The finance ministry had, on January 27, imposed the export duty at the behest of the steel ministry, which had argued that iron ore was being exported in the garb of pellets and there is a pressing need to disincentivise it.

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