Odisha’s largest merchant miner, Rungta Mines has increased Iron ore Fines prices by INR 200-250/MT and Lump by INR 300/MT.
Earlier, Indian government notified increased royalty rates of 53 minerals in Government of India gazette notification dated 01 Sep, 2014 (Monday). It has come into force from date of the notification.
Rungta Mines, whose production stood at 12.8 MnT in FY14, has raised its Iron ore offers following the Iron ore royalty hike of 5%.
Rungta Mines Iron Ore Prices w.e.f 05 Sep, 2014
|
Size |
Grade |
Prices |
Change |
|
5-18 mm |
65 |
7,400 |
+300 |
|
5-18 mm |
63 |
7,100 |
+300 |
|
10-30 mm |
65 |
6,750 |
+300 |
|
10-30 mm |
63 |
6,350 |
+300 |
|
Blue Dust/Fines |
63 |
3,200 |
+250 |
Prices in INR/MT, including royalty
Source: SteelMint Research
Scarcity in availability of raw material and monsoon have bounded miners from supplying Iron ore in the domestic market.
Not many of the miners are offering material as of now.
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