ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Parliamentary Democracy-A Matter of Irrelevant Detail

 creased almost by over 60 per cent on average, there has been no commensurate increase in iron ore prices. However sound the case for a rise in the price of iron ore, whether MMTC is able to secure a price rise will depend on a number of other factors. The Japanese have so spread their imports of iron ore that none of the exporting countries is in a very strong bargaining position. They have built up simultaneously several sources of supply in Asia, Australia and Latin America and are now doing the same in several African countries. In several cases they have themselves supplied the capital for development of mines and building of transportation facilities. Because of the location of iron ore deposits in a number of countries and in view of the fact that the Japanese are the major customers for this product, none of the exporting countries has been willing to take the risk of pitching its demands too high and in the process losing a big and expanding market for their ore. The Japanese have in fact stepped up their efforts to locate fresh sources of iron ore. They have, for instance, coneluded long-term agreements with South Africa for supply of 12 mn tonnes of iron ore annually.

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