Steelmakers seek cap on ore exports

Leading steel makers including Tata Steel and JSW on Tuesday sought a ceiling on iron ore exports as the export duty on iron ore was not enough to discourage mining companies from selling the mineral overseas.

“There is need for more stringent and specific measures like a quantity ceiling to make sure that we conserve our ore to give fillip to value addition within the country,” Tata Steel managing director B Muthuraman said. P. Chidambaram’s move is in the interest of the country and should be commended, he added.