SteelMint learned from the trade sources that Odisha based merchant miners are planning to hike iron ore prices further. However, no confirmation was received from miners at the time of publishing this report.
In the month of August, miners had raised prices by INR 600-700/MT in both lump and fines via two price hikes. However, miners are heard offering discounts as per quantity of purchase.
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 high pellet & semi-finished prices along with the logistic issues in eastern India have collectively pushed up iron ore prices.
Domestic pellet prices in Durgapur have increased by INR 400/MT W-o-W to INR 8,400/MT as assessed on 05 Sept’18.
C-DRI prices in Durgapur have increased sharply by INR 500/MT W-o-W to INR 25,000/MT as against INR 24,500/MT in a week ago.
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