Odisha’s based major merchant iron ore miners – KJS Ahluwalia, Kaypee Enterprises, and Serajuddin Mines have announced a further hike in iron ore prices by around INR 300-400/MT in both lumps and fines.
This is 2nd price hike made by them in a week’s time. Other major miners are also to announce 2nd price hike shortly. Last week, iron ore merchant miner from Odisha increased the price by INR 300/MT for both lumps and fines.
After 2nd price hike, trade reference prices for 5-18 mm (Fe 63%) will be around INR 5,500-5,700/MT and for fines (Fe 63%) will be around INR 3,000/MT. Prices mentioned are ex-miners, inclusive of Royalty, DMF & NMET.
Shortage of raw material amid monsoons and decent bookings of pellet exports along with logistic issues in eastern India have collectively pushed up iron ore prices.
Domestic pellet prices in Durgapur have increased by INR 300-400/MT W-o-W to INR 8,000/MT as assessed on 28 Aug’18.
C-DRI prices in Durgapur have increased sharply by INR 500/MT W-o-W to INR 24,500/MT as against INR 24,000/MT in a week ago.
Serajuddin is Odisha’s 2nd largest merchant miner with the production capacity of 15.15 MnT p.a and produced 9 MnT in last fiscal. KJS Ahluwalia produced 5.4 MnT iron ore in FY’18.
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