India's iron ore export tariff has been raised to 45% - 50% since May 22

According to the Indian Ministry of finance, the Indian government raised the export tariff of its iron ore on May 22, among which the export tariff of iron ore of different iron grades and varieties was raised to 45% - 50%. Mysteel believes that this tariff adjustment will mainly have some impact on the import volume of 58% fine ore and Indian pellets. The impact on the import of pellets is greater than that of fine ore, and the impact of less than 58% of fine ore is greater than that of more than 58%. The reduction of Indian pellet to China may be obvious, and some traders have made it clear that they will not perform the pellet contract after June. Due to the high price of pellets, the simultaneous sales of Indian pellets to the European market, and the obvious differences between Indian pellets and domestic pellets in terms of quality and pressure resistance, the sales price of the original port was to raise the cost performance at a low price. At present, the sales price of domestic pellets is 1300 yuan / ton, equivalent to about US $176 / dry ton. If the price of Indian pellets is increased by 45%, it is expected that the existing steel mills using Indian pellets will be transferred to more cost-effective domestic pellets.