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A heated debate has erupted within the iron and steel industry regarding the export of iron ore, with mining companies and steelmakers without captive mines embroiled in a conflict to protect their respective interests.
Secondary steel producers, primarily from Odisha and Chhattisgarh, have strongly advocated for an "immediate ban on iron ore exports," citing mounting pressure on their industry due to the outflow of raw materials. In contrast, the Federation of Indian Mineral Industries, representing iron ore producers, vehemently opposes any such measure.
A third faction comprising primary steel producers has called for import restrictions on finished steel products, focusing on safeguarding India's self-reliance in steel production. Notably, while these producers advocate for curbing steel imports from China, they remain silent on proposals for imposing export duties on iron ore. The Indian Steel Association, representing top steelmakers in the country, stresses the need to protect domestic steel production by addressing both rising raw material costs and surging steel imports.
Expressing concerns over the potential impact on steel production targets, the Chhattisgarh Sponge Iron Manufacturers Association underscores the critical challenge posed by iron ore exports. Similarly, the Orissa Sponge Iron Manufacturers Association warns of an "imminent threat" to raw material resources essential for steel production. With India's current capacity to produce just over 150 million tonnes of primary steel annually, the proposed export ban could significantly affect the industry's trajectory.
Notably, Odisha and Chhattisgarh contribute substantially to the country's iron ore production, with Odisha alone accounting for more than half of the total output. As the debate intensifies, the industry awaits government intervention to address the competing interests and ensure the sustainability of India's steel sector.
Also Read : India's Steel demand to grow by 9-12% in FY25: Ind-Ra report Domestic finished steel consumption climbs 13% to 136 MT in FY24
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