Odisha’s Essel Mining has cut iron ore lump prices by INR 400/t and that of fines by around INR 300-400/t today, credible sources reported to SteelMint. Notably, the miner has cut offers after a gap of eight months as its last price cut was seen in May’20. Revised offer for fines (Fe 62%) stands at INR 6,275/t (ex-mines, including Royalty, DMF & NMET). Limited buying inquiries at high offers and improved iron ore availability in Odisha have resulted in price correction.
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