Serajuddin mines and co, an Odisha based large miner has cut its iron ore lumps offer by Rs 400/t and iron fines by Rs 200 per tonne w.e.f 4th December.Prices have been cut looking at weak demand from sponge manufacturers and falling steel prices reported local iron ore traders.
Current offers are
5-18mm (63%)= Rs 5,600/t (Ex-Mines)
5-18mm (63%)= Rs 5,950- 6,000/t (Loaded to Wagons)
Fines (63%)= Rs 1,900/t (Ex-Mines)
Fines (63%)= Rs 2,250-2,300/t (Loaded to Wagons)
Prices Including Royalty, Taxes Extra.
“Prices have come down for the reason that many sponge plants are shut or running at low capacities, there are few takers for iron ore in the market. Despite supply constrain in Odisha, prices have come down. Over all sentiments do not look to be bullish in near term.” said an iron ore trader based in Odisha.
NMDC also likely to decide December prices on 6th of this month said sources.
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