Rungta Mines at Odisha has made no changes in the Iron Ore prices for November. Current offers for 65% Fe 5-18 mm stands at Rs 7,650/t (F.O.R Siding) and 63% Fe 5-18 mm stands at Rs 7,250/t (F.O.R Siding).
Iron Ore supply is tight in Odisha over Shah Commission's visit, which has resulted in restriction of lifting up the material in the state.
Production is anticipated to be low further and there are chances of closure of the mines too.
Iron Ore Pellets prices have also been increased in the state due to tight supply of iron ore.Until the first 15 days of November, market looks to be the same with no changes in price trend.
“Mines which are operational have kept their prices unchanged as there will no fresh permissions till Diwali (13th Nov). Prices will be reviewed after that based on market situation.” said an iron ore trader based in Odisha.
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