Prices of iron ore concentrate (Fe 63%) in Madhya Pradesh’s Jabalpur region have declined by around INR 1,500/t, w-o-w. The current price for Fe 63% ore concentrate stands at INR 6,500/t exw. However, sources indicated that offers are at around INR 6,000/t. A few major reasons for decline in prices are NMDC’s price cut announced last week by up to INR 1,160/t, decreasing prices in Odisha and dull response at SAIL iron ore auctions in Odisha and Chhattisgarh.
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