Prices of iron ore concentrates (Fe 63%) in the Jabalpur region have remained stable at around INR 8,000-8,100/ t exw. Though domestic iron ore prices have seen a correction of around INR 1,200/t in Odisha last week, concentrate prices have remained stable due to pending deliveries of previous orders.
Madhya Pradesh, the fifth-largest iron ore producing state in India, produces around 2.5-3 mnt of iron ore annually. About 96-98% of total production is below Fe 55% grade, which is beneficiated and used by pellet producers as well as for sintering.
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