Thanks for the article Mahony. I find the comments re India very...

Thanks for the article Mahony. I find the comments re India very interesting.....

"I think it's also worth noting that iron ore imports from India are declining. India exports about 50% of its total iron ore production (about 96mt in 2010) with 95% of
that going to China. However in July 2010, bans on iron ore production by the Indian state of Karnataka, which accounted for about 25% of India's total iron ore production, were enacted while officials investigated illegal mining activity. While the ban was subsequently lifted in some regions, losses in production led to a reduction in India's iron ore exports.

According to China's General Administration of Customs, imports of Indian iron ore in 2011 fell 24% yoy to 73.3 mt. In addition to the environmental related mining bans, increased export tariffs and pressure from India's steel mills to retain their iron ore for future domestic needs strongly suggest that India's trade with China will further decline in 2012."