Odisha merchant miners continue to hold iron ore prices. Miners had cut fines prices by INR 150/MT in the beginning of this month. As per market participants there are less chances of revision in iron ore prices in rest half of the month.
Odisha iron ore prices as on 16 Feb’16
|
Miner |
Size (mm) | Grade (Fe %) |
Prices in INR/MT |
| Rungta Mines (Joda)* | 5-18 | 62 | 2,550 |
| 10-30 | 62 | 2,450 | |
| Fines | 63 | 1,550 | |
| Serajuddin Mines | 5-18 | 63 | 2,150 |
| Fines | 63 | 1,300 | |
| Essel Mining (Koira) | 5-18 | 62 | 2,050 |
| 10-30 (Sc) | 61 | 1,400 | |
| Fines | 63 | 1,275 | |
| KJS Ahluwalia | 5-18 | 63 | 2,150 |
| 10-30 | 62 | 2,050 | |
| Fines | 63 | 1,400 | |
| Kaypee Enterprises | 5-18 | 63 | 2,050 |
| 10-30 | 62 | 1,900 | |
| Fines | 63 | 1,450 | |
| Indrani Patnaik | 5-18 (Cr) | 63 | 2,150 |
| 10-30 | 62 | 2,050 | |
| Fines | 62 | 1,250 |
*prices as per loaded to wagons & inclusive of Royalty
ex-mines prices & inclusive of Royalty
Source: SteelMint Research
A market source shared that Odisha miners namely RP Sao and Geetarani Mohanty may get permission to resume iron ore mining next month which will increase iron ore supply in the state.
Odisha Mining Corporation (OMC) may conduct iron ore e-auction in 3rd week of Feb’16 in which they may put 0.5-0.55 MnT iron ore under hammer. OMC iron ore sales are expected to be around 4-4.5 MnT in this fiscal. The miner has already sold 2.81 MnT iron ore from Apr’15-Dec’15.
Trade-wise:
- KMC (Odisha) iron ore offers: 5-18 mm (Fe 62%)-1,700 & fines (Fe 62%)- 1,350 (Ex-mines prices in INR/MT inclusive of Royalty)
- KN Ram (Odisha) iron ore prices are: 5-18 mm (Fe 63%)- 2,350/MT and fines (Fe 63%)- 1,500/MT (prices in INR/MT are loaded to wagons & inclusive of Royalty)
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