KJS Ahluwalia and Kaypee Enterprises have raised lump prices by INR 400/MT (USD 6) and fines prices by INR 200/MT (USD 3) with effect from today.
In line with SteelMint’s forecast that iron ore prices in Odisha will increase in near future, two major merchant miners have raised prices from today onwards. KJS Ahluwalia and Kaypee Enterprises have raised iron ore lump prices by INR 400/MT and fines prices by INR 200/MT.
It is expected that other miners may follow the suit and may come up with price revisions shortly.
Current Prices of KJS Ahluwalia and Kaypee Enterprises
|
Mine |
Size (mm) | Grade (Fe %) | Prices in INR/MT |
Change |
| KJS Ahluwalia | 5-18 | 63 | 3,850 | +400 |
| 10-30 | 62.5 | 3,200 | +400 | |
| Fines | 63 | 1,625 | +200 | |
| Kaypee Enterprises | 5-18 | 63 | 3,350 | +400 |
| 10-30 | 62.5 | 3,100 | +400 | |
| Fines | 63 | 1,625 | +200 |
Ex-mines prices in INR/MT w.e.f today
Prices inclusive of Royalty, DMF, NMET ; GST @5% extra
Source: SteelMint Research
The second largest merchant miner of Odisha – Serajuddin Mines lease stands due for renewal on 02 Dec’17 which is expected to take around 15-20 days more for the renewal. This may hamper the iron ore supplies in the eastern parts of the country for few days.
Furthermore, the increase in sponge iron prices is supporting hike in iron ore prices by the miners. The C-DRI prices witnessed a hike of about INR 1000/MT in a month’s time in eastern India (Rourkela and Durgapur). Such price rise is supporting the price hike by iron ore miners.
Besides such crises, transportation issues continues in Odisha due to which iron ore dispatches from Odisha’s merchant mines have fallen for the 3rd consecutive month in Oct’17. State based merchant miners supplied 5.39 MnT iron ore in Oct’17 in domestic market compared to 5.89 MnT in Sept’17.
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