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India: NMDC export contracts to Japan, Korea scrapped


Government-owned miner NMDC’s long-term iron ore export contracts with Japanese steel mills (JSMs) and South Korea’s POSCO will not be renewed, SteelMint has learnt from reliable market sources.
The reason is that the Government of India has withdrawn the two sops it had provided NMDC in offering these contracts. These comprised a reduced 10% export duty as against the normal 30% paid by private iron ore exporters, and some railway freight concessions compared to private players. The source said:


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