Iron ore miners based in Odisha, India's largest producing state with an annual production of above 65 million tonnes per annum, have maintained their offers for April bookings. Market participants highlight that demand has improved as many medium and small sponge units have started operations last month.
” We are keeping our prices unchanged for April, also number of queries have increased in past few days.” said a senior marketing executive at one of the mines based in Odisha. Shah commission's report will take some time, he further added.
On the other hand sponge manufacturers highlight that it makes sense for medium and small manufacturers to source from Odisha miners than NMDC, as landed price difference is above Rs 500-700 per tonne.
Current prices for CLO 5-18mm is trading in the range of Rs 5,800-6,500 per tonne (Ex-mines basis, incld royalty, Fe 63%) and iron ore fines in the range of Rs 1,700-2,000/t (Ex-mines basis, incld royalty, Fe 63%).
Leave a Reply