Iron ore demand, price to wane further

Mining and transportation of minerals halt in this period in most Asian countries, with mills using raw material from their inventory. Only pending and need-based orders are met during this period. The demand for ore declines 70-80 per cent due to waterlogging in mines and blockage of roads.

“Iron ore exports are facing delay in permission from the Karnataka government despite the Supreme Court ordering a lifting of the ban on April 20. By this time, the state government should have allowed exports. Although it has hinted at allowing exports in the next week, miners and traders may not get the benefit this season, as ports have started shutting operations gradually,"

According to Mysteel.net, a leading portal dedicated to steel and raw materials in China, the imported iron ore market is continuing to decline. India exports nearly 90 per cent of its low-grade ore to China

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