Odisha’s Essel Mining has today cut iron ore lump offers by INR 600/t and that of fines by INR 500/t, credible sources reported to SteelMint. Revised offer for fines (Fe 62%) stands at INR 5,775/t (ex-mines, including Royalty, DMF & NMET). Limited buying inquiries at previous offers, improved iron ore availability in Odisha, and decline in steel prices have resulted in price correction.
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