Taurian Iron & Steel continues to hold Iron ore lumps offers as they have already received enough booking orders. Whereas, Iron ore fines are being offered and prices remain constant. Since 1 Jun, 2014 lumps sales are on hold and might be resumed next month.
Earlier, the company had raised lumps prices by INR 500/MT w.e.f 20 May, 2014 because of the Supreme Court’s interim order on 16 May, 2014, which stated suspension of mining operations at 26 Iron ore & Manganese ore mines (includes 10 merchant Iron ore mines) in Odisha. The merchant mines produced about 19.1 MnT Iron ore in FY14. Fines prices were on the same level looking at export parity and as it is low grade (Fe 57-58%) material.
Taurian Iron Ore Prices
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Taurian Iron Ore Prices |
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|
Size & Grade (Fe %) |
May’14* |
May’14 |
Apr’14 |
|
5-18 mm & Fe 61-62 |
5,700 |
5,200 |
4,900 |
|
10-40 mm Fe 61-62 |
5200 |
4,700 |
4,500 |
|
Fines Fe 57-58 |
1,300 |
1,300 |
1,300 |
* Prices w.e.f 20 May, 2014
All prices (INR/MT) on Ex-plant basis, including royalty
Additional cost of INR 200/MT for loading and transportation to nearest Railway siding
Since Apr’14, lumps are INR 800/MT costlier. The company had raised prices supported by better demand from Sponge iron manufacturers based in Jharkhand and Chhattisgarh after suspension of mining operations in Odisha.
Taurian Iron & Steel operates a crusher plant in Jharkhand. Its mines are operated on a contractual basis by Thriveni Earth and Movers. Taurian is associated with Singhbhum Minerals for Iron ore procurement.
Other Jharkhand based miners namely NKPK and OMM aren’t offering Iron ore for domestic sales as of now.
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