Odisha’s Essel Mining has raised offers for iron ore fines by INR 700/t and lump by INR 2,000/t from 4 Jun’21, sources informed SteelMint. The revised offer for fines (Fe 62%) stands at INR 9,100/t and that for 5-18mm lumps is at INR 14,700/t (ex-mines, including Royalty, DMF & NMET). Notably, Essel’s iron ore mining lease will expire on 28 Aug’21. Also, the lease of Odisha’s Sarda Mines is due for expiry on 13 Aug. Hike in bids in OMC’s auction amid tight merchant availability has resulted in hike in offers by Essel Mining.
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