Rungta Mines, one of the largest merchant miner of Iron ore having mining operations in the state of Odisha and Jharkhand, has lowered Iron ore lumps prices by Rs 400/MT.
Whereas, offers for Iron ore fines remain unaltered at previous levels, due to decent demand.
Rungta Mines Iron Ore Prices w.e.f 2nd Aug '13:
Iron ore lumps
5-18 mm & Fe 65: Rs 6,500/MT
5-18 mm & Fe 63: Rs 6,200/MT
10-30 mm & Fe 65: Rs 5,850/MT
10-30 mm & Fe 63: Rs 5,670/MT
Iron ore fines
Fe 63: Rs 2,200/MT
(Prices loaded to wagons at major sidings in Barbil, Odisha; Including royalty)
Though, the miner had lowered offers by Rs 200/MT during mid-July, poor off take in Iron ore lumps has resulted in further correction.
Some of the Sponge iron plants located in Odisha are utilizing only about 40-50% of total installed production capacity and few of them have closed down operations owing to high cost of raw material.
They also have an option to procure Iron Pellets which is being offered at quite low prices and in large quantities as compared to Iron ore lumps.
For more details, contact
Seema Goenka
(seema@steelmint.com)
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