The Center restored the status quo that prevailed before May 22 and withdrew the export duty on iron ore lumps and fines below 58 Fe, iron ore pellets and specified steel products including pig iron.

Import tariff concessions on anthracite/PCI coal, coking coal, coke and semi-coke, and ferronickel have also been removed.

Officials said the current measures will boost the domestic steel industry and boost exports.

Starting Saturday, exports of iron ore lumps and fines containing less than 58% Fe will be subject to a zero export duty and with more than 58% Fe will be subject to a lower export duty of 30 %.

Similarly, exports of iron ore pellets will be subject to zero export duty and exports of pig iron and steel products classified under headings 7201, 7208, 7209, 7210, 7213, 7214, 7219, 7222 and HS 7227 will be subject to a zero export duty.

In May, following a sharp and steady rise in steel prices and in order to increase the availability of finished steel as well as raw or intermediate materials necessary for the manufacture of steel, the government took several pricing actions earlier this year.


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