Serajuddin- Odisha’s major merchant iron ore mine has decreased iron ore lump offers by INR 500/MT (USD 7) effective from today (17 Mar’20).
Miner has decreased prices for 5-18 mm (Fe 63%) by INR 500/MT to INR 4,000/MT (ex-mines, including Royalty, DMF, & NMET) as against last offer of INR 4,500/MT.
A couple of days back (13th March 2020) offer for lumps was decreased by the miner by the same quantum. In a week’s time, the miner has decreased lumps offer by INR 1,000/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 (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.
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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