Rungta mines, the largest Odisha based merchant miner, with an annual production capacity of 12-13 million tons, has decided to continue offering iron ore at current price levels.
Offers for iron ore fines with Fe% 63 is quoted at Rs 2,300/MT.
CLO iron ore lumps with Fe% 63 is being offered at Rs 7,250/MT and prices of the raw material with Fe% 65 is standing at Rs 7,650/MT.
(Prices loaded to wagon, Odisha).
A senior official of Rungta mines remarked that there is no such reason on which prices could be altered.
Market conditions are similar and we have not met with a big change in demand for the raw material.
Though, sales of fines is sort of decent but response for lumps is weak.
On mining issues in Odisha, Shah Commission's decision is yet to take place.
Things don't look to resolve soon.”
In the begining of March, the company had lowered prices of fines by Rs 350/MT to Rs 2,300/MT, looking at weak demand.
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