Odisha’s Essel Mining has today increased iron ore lump offers by INR 500/t, credible sources reported to SteelMint. Offer for lump (5-18 mm, Fe 62%) stands at INR 8,600/t (ex-mines, including Royalty, DMF & NMET). However, the miner has kept fines offer unchanged. Tighter availability of iron ore lumps in Odisha merchant market has lifted up offers as few small merchant miners have exhausted their EC limits. However, availability of fines in the merchant market has remained decent with frequent auctions being conducted by SAIL and OMC, SteelMint understands.
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