Domestic iron ore prices in India are expected to cool down after witnessing a sharp hike in the last few quarters, highlighted JSW Steel’s senior management in today’s investor conference call. Prices in Odisha rallied by around 135% from INR 1,960/t to INR 4,600/t levels. With ramp-up in Odisha’s iron ore production, allotment of auctioned & non-operationalized mines to OMC and mining reforms are likely to enhance domestic iron ore availability. This is likely to bring down domestic iron ore prices.
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