Iron ore concentrate prices in Jabalpur region have fallen by INR 50/t, w-o-w. SteelMint’s assessment for Fe 63% concentrate stands at INR 6,400/tonne (t) exw.
Not many new deals have been heard this week due to increased offers. Buyers are anxious and confused while looking at the present market scenario. They are holding back buying inquiries owing to higher raw material prices. The disparity between offers and bids still prevails. Buyers are expecting to see some clarity in the price trend in the first week of April.
Factors behind slow demand-
- SteelMint’s weekly Odisha iron ore fines index (Fe 62%) decreased by INR 500/t w-o-w to INR 6,300/t ex-mines last week after bids fell in OMC’s auction compared to bids fetched in Feb’22.
- SteelMints bi-weekly domestic pellet (Fe 63%) prices stood at INR 13,900/t DAP Raipur on 22 Mar’22, down INR 100/t compared with the last assessment on 17 Mar’22. The decrease in sponge iron prices on lower bids resulted in a decline in bids or pellets.
Outlook
In the view of increasing demand for iron ore concentrates in the last few years, several plants, including Pacific Iron, Geomin and Jakhodia Minerals are planning capacity expansion. Some greenfield projects are also in the pipeline.
.jpg)
Leave a Reply