Odisha based major merchant iron ore miners have today announced another increase in iron ore offers. Fines prices have moved up by INR 400/MT and lumps by INR 500-600/MT. Major Odisha merchant miners namely Serajuddin, KJS Ahluwalia, Kaypee Enterprises, KN Ram, R P Sao have raised iron ore prices. Revised prices will be effective from today (i.e.12th Feb’19).
After price hike , trade prices for fines (Fe 63%) is around INR 2,400-2,500/MT (ex-mines, including Royalty, DMF & NMET) and for 5-18 mm (Fe 63%) is around INR 4,600-4,700/MT (Ex-mines, including Royalty, DMF & NMET).
This is the 2nd price hike made by miners in a months’ time. Towards the beginning of this month, Odisha merchant miners increased offers in both fines and lumps by INR 200-300/MT(Ex-mines, including Royalty, DMF & NMET).
Odisha merchant miners have increased iron ore offers on the back of recent surge in pellet & sponge prices. Indian pellet prices are trading close to 3-month high. Durgapur pellet price assessment increased to INR 7,200-7,500/MT, up by around INR 900/MT in a week’s time. Similarly sponge iron prices in Durgapur have increased by INR 900/MT in a week.
Also few major merchant miners are heard to have utilized their EC limits for FY’19 owing to which they do not have much material to offer in the market till March. This is another reason which has supported recent price hike.
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