Serajuddin- Odisha’s major merchant iron ore mine has decreased iron ore lump offers effect from today (13 Mar’20). Miner has decreased prices for 5-18 mm (Fe 63%) by INR 500/MT to INR 4, 500/MT (ex-mines, including Royalty, DMF, & NMET) as against last offer of INR 5,000/MT.
However, the fines price of miners remained unchanged. SteelMint’s index for Odisha iron ore fines price for Odisha iron ore fines Fe 63% stands stable at INR 2,200-2,300/MT and that of 5-18mm lumps stands at INR 4,500-4,700/MT (ex-mines, including Royalty, DMF & NMET).
As per the reliable sources report to SteelMint, there is some sort of slow-down to place a new order, as the buyers are reluctant to place any fresh orders for the delivery of material by 31st Mar 2020. As few existing miners will see the change of hands after auctions conducted last month. Following this logistic cost via truck has also been increased as per the sources.
Serajuddin iron ore dispatches fell by 15% for the month of Feb’20 to 1.08 MnT as against 1.26 MnT in Jan 2020, according to data maintained with SteelMint. The miner has an EC limit of 15.15 MnT p.a.
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