Essel Mining Industries Ltd (EMIL), which is a part of Aditya Birla group, has cut iron ore lump prices by INR 200/MT, where as fines prices have been kept unchanged. Prices have been cut on back drop of increased supply of ore in domestic market post MMDR act.
Current offers for 30-80mm (61%) are at INR 2,500/MT, 10-30 (61%) at INR 2,850/MT and 5-18mm (62%) at INR 3,850/MT on ex-mines basis, incld royalty.
Other miners like Serajuddin, Indrani and KJS Ahluwalia have already reduced their lump prices by INR 200-350/MT last week. NMDC likely to cut prices by INR 200-300/MT for July deliveries.
Currently, EMIL’s koira mines is operational, where as Kasia and Jhilling has been closed for quite some while.
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