New Delhi, Sept. 9 -- The Indian government is planning to impose a30% export dutyon low-grade iron ore byOctober.

The move aims to ensure affordable raw material supply for domestic steelmakers and boost the export of value-added steel products.

Currently, low-grade fines and lumps are freely exported without duty, while high-grade lumps attract a 30% levy.

By extending the duty to low-grade ore, the government seeks to encourage local processing and beneficiation.

This aligns with India's broader plan to increase finished steel exports to50 million tonnes (MT)in the coming years.

The decision comes at a time when iron ore prices are climbing. In August, NMDC increased prices by Rs 400 per tonne-fixing fines at Rs 5,250 and lumps at...