Orissa Mining Corporation fetches higher bid for its Iron Ore; up by almost Rs 200-400/MT

28 Dec , 2010

SteelMint Exclusive

Orissa Mining Corporation , an PSU mining company based in Orissa having one of the best quality Iron Ore in the sector, recently tendered its 40000MT (approx) Iron Ore for the month of January to March 2011.

It fetched higher prices for its ore looking at higher sponge prices and tight supply in the market. According to market participants manufacturers are bullish and are ready to pay higher prices for the ore.

This time prices went up by almost Rs 300-500/MT for its lumpy high grade ore. Sources said companies alloted ore are Necco, Monnet , Adhunik and few more.

OMC Iron Ore Prices 

Gandmardhan 

10-40mm (62% Fe) = Rs 4335/MT

10-180mm (64% Fe) = Rs 4155/MT

5-18mm(64% Fe) = Rs 5502/MT

Koira Sector

10-40mm=Rs 4801/MT

10-180mm= Rs 4059/MT

Reported by Richa Sharma (richa@steelmint.com)