- Odisha’s Essel Mining iron ore lump offers hit a record high
- NMDC lifts iron ore prices by upto INR 580/t for Apr
- Goan iron ore e-auction receives a weak response
SteelMint’s weekly index for iron ore lump (5-18mm, Fe 63%) has risen sharply by INR 1,500/t to INR 9,700/t (ex-mines, including Royalty, DMF & NMET).
Bids rose significantly in OMC’s iron ore lump e-auction – Odisha’s state-owned miner- Odisha Mining Corporation (OMC) had scheduled an iron ore e-auction on 31st Mar’21 for 1.13 mn t iron ore lumps. The miner had raised the base price up to INR 1,850/t against its last auction held towards early Feb’21. The auction received active participation and bids fetched were higher by up to INR 1,600/t over the set base price, sources highlighted. Due to limited iron ore lump offers in Odisha’s merchant market amid exhausting EC limits has resulted in a sharp hike in bids.
Also, recently announced changes in MMDR Amendment Act, 2021 for charging additional amount on grant/extension of mining leases has pushed miners for a price hike.
Odisha’s Essel Mining iron ore lump offers hit a record high- Odisha’s Essel Mining has increased iron ore lump offers by INR 1,200/t and fines by INR 725/t on 1 Apr’21, credible sources reported to SteelMint. In total Essel mining has raised iron ore lump offers by around INR 1,700/t in the last one week. Lump offers of Essel Mining have hit a record high according to the data maintained with SteelMint.
SteelMint’s weekly index for Odisha iron ore fines (Fe 62%) has increased sharply by INR 1,200/t this week to INR 6,400/t (ex-mines, including Royalty, DMF & NMET).
SteelMint has received eleven (11) offers, indicative prices under T2 trade in this publishing window out of those ten (10) were taken into consideration and given rest 100% weightage in this week index. To see SteelMint’s iron ore assessments, pricing methodology and specification documents, Click here
Odisha iron ore price:
NMDC lifts iron ore offers by upto INR 580/t – India’s state-owned iron ore miner – National Mineral Development Corporation (NMDC) has announced price hike in iron ore, effective from today. Prices have increased up to 9% from its Chhattisgarh based mines. The miner has increased the price for Baila fines by INR 250/t, Baila lump by INR 500/t and DR-CLO by INR 580/t.
FoR prices, Royalty, DMF, NMET extra
Source : SteelMint Research
Only 70% of material booked in 25th Goan iron ore e-auction – In the 25th iron ore e-auction held on 24th Mar’21, about 1 mn t (70% of total) iron ore was booked out of the total 1.62 mn t put to auction. The purchase was hampered due to low grade of iron ore put to auction and weak demand in China on recently announced production cuts. As per the sources, over 1 mn t of iron ore remains with the state government for e-auctioning.
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