It was only a matter of time and it looks like that its about to happen. When India decides to ban all IO exports this will drive the IO spot price into the stratosphere.
India seeks ban on iron exports
Published July 13 2010 10:05
The Indian Government has proposed a ban on the export of iron ore to secure the country?s mineral wealth for the fast-growing domestic economy.
?It will be good to completely ban iron ore exports as these are non-renewable resources, Atul Chaturvedi, secretary in the ministry of steel, said on Monday. ?once you exhaust them, you won?t get them [again].?
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