<h1>India Raises Export Duty on Iron Ore to 30% to Boost Domestic Supply, Excludes Pellets.</h1> India, ranked as the fourth largest crude steel producer globally in 2012, has increased the export duty on iron ore from 20% to 30% to boost domestic availability and affordability. This policy excludes iron ore pellets. The steel sector in India is deregulated, allowing producers to set prices based on market conditions. Despite this, steel prices have generally declined in 2012. The government aims to balance domestic supply with international price trends and raw material costs, as highlighted by the Minister of Steel in a Lok Sabha session.