Posted on 16 Aug 2022
Indian state-controlled KIOCL restarted its 3.5mn t/yr iron ore pellet plant in Mangalore today. The facility had been shut since early June because of the impact of export duties.
KIOCL suspended operations at Mangalore on 7 June, saying they had become economically unviable as a result of high export duties. The government imposed a 45pc duty on iron ore pellet exports on 22 May to safeguard domestic supply and help curb inflation.
KIOCL exported about 98pc of its pellets in the fiscal year to 31 March 2022. It produced 2.03mn t over the period, and dispatched 2.07mn t.
The Argus 63pc Fe 3.5pc alumina pellet index averaged $120.38/t in July, down by 15pc from June and 52pc on the year. The 2pc alumina index averaged $127.38/t, down by 15pc on June and 53pc on the year.
Source:Argus Media
