Serajuddin Mines Cut Iron Ore Lump Prices by INR 300/MT

Serajuddin Mines has further reduced lump prices by INR 300/MT and kept fines prices unchanged.

Odisha based merchant miner, Serajuddin Mines has reduced lump prices further by INR 300/MT however fines prices continue to remain unchanged.

”Buying interest for lump is seen at INR 2,300/MT and bookings for lump have also not moved improved significantly which has led to another round of price reduction in lump. However demand for fines is comparatively decent and thus fines prices continue to remain same.” shared a company official

Also, in a meeting conducted today Odisha govt. has instructed the Odisha based merchant iron ore miners have been asked to raise their dispatches in order to meet the laid target. This might put iron ore miners further under pressure.

Serajuddin Mines Iron Ore Prices w.e.f 14 Nov’15

Ex-mines prices in INR/MT including Royalty
1 USD=66.1 INR
Source: SteelMint Research

The miner had last revised its prices on 27 Oct’15 wherby it had cut lump prices by INR 300/MT and had kept fines prices unchanged.