According to trade sources report to the SteelMint, Odisha’s based merchant iron ore miners are heard to have increased discounts further over announced offers.
SteelMint learned from the sources that currently trade prices for Fe 63% fines are around INR 2,800-3,000/MT and for 5-18 mm (Fe 63%) around INR 5,500/MT (ex-mines, including Royalty, DMF & NMET). Prices mentioned are for regular quantity bookings while bulk buyers may attract further discount.
A month back, trade reference prices were INR 3,000-3,100/MT for fines and INR 5,700/MT for 5-18mm lumps.
After the three successive price hikes between an end of Aug and early Sept’18 Odisha based merchant miners were facing narrowed buying interest following which they have been giving quantity discounts to stimulate the buying interest.
Domestic pellet offers under pressure amid declining export offers – Decreasing domestics pellet prices and export offers plunge in limited Chinese buying interest led the Odisha merchant iron ore prices soften. In Durgapur (eastern India) pellet prices have come down by INR 300-350/MT M-o-M. On the other side, Indian pellet export prices have come down sharply to USD 117/MT, CFR China down by USD 20/MT M-o-M.
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