According to announcement issued by the Ministry of Finance of India on November 18, to stimulate domestic steel industry and boost exports, from November 19, the 50% export duty imposed in May this year on iron ore lump and ore fines with an iron content of less than 58% will be lifted; the export duty on ore lumps and fines with an iron content of more than 58% will also be reverted to 30%; and exports of pellets will recover zero-tariff treatment.

In addition, exports of pig iron and steel products (HS 7201, 7208, 7209, 7210, 7213, 7214, 7219, 7222 & 7227) will recover zero-tariff treatment. Import duty on anthracite/PCI coal, coking coal and ferronickel will be reverted to 2.5%, and that on coke and semi-coke to 5%.