OMC to lift Iron ore prices by 20-40% in Oct to Dec

Tuesday, October 19,

The Orissa Mining Corporation (OMC) has gone for an upward revision in prices of different grades of Iron ore by 20%-40% for Oct-Dec period.

“Price revision of Iron ore is being done by OMC every quarter depending on prevailing prices of the ores in the domestic and international markets”, said Saswat Mishra, managing director of OMC.

In the Gandhmardhan sector, the price of Fe65% cargo has been raised from Rs 3000/tonne to Rs 3571/tonne. On the other hand, prices of iron ore fines have been increased from Rs 2105/tonne to Rs 2502/tonne.

In the Koira sector, the Iron ore prices in the Khandadhar/Kurmitar area have gone up from Rs 3652/tonne to Rs 4111/tonne. Price of Iron ore fines in this sector has also appreciated from Rs 1252/tonne to Rs 1852/tonne.

In the Daitari sector, the price of Iron ore fines Fe62% has moved up from Rs 2352/tonne to Rs 2652/tonne.

Meanwhile, OMC had decided to enter into long-term supply arrangements with the prospective buyers of these fines.