BigMint’s Odisha iron ore fines (Fe 62%) index dropped by INR 200/tonne (t) w-o-w to INR 4,300/t ($50/t) ex-mines on 20 July, 2024. No Fe 62% fines deals were recorded in this publishing window. A total of 110,000 t of other grades of iron ore direct sales from merchant miners were recorded by BigMint in Odisha this week.
OMC conducted an auction for 1.057 mnt of iron ore lumps (Fe 58-64%) on 20 Jul’24. The buyers booked 0.953 mnt (90% of the offered quantity) of lumps at INR 3,770-6,000/t. and 1.485 mnt of iron ore fines (Fe 54-65%) on 20 Jul’24, entire quantity was booked.
Mill scale prices in Raipur remain supported at INR 6,800/t exw on 20 Jul’24 against 17 Jul. Around 6,000 t of mill scale deals were recorded at INR 6,700-7,000/t exw Raipur.Mill scale prices in Kandla remained largely stable at INR 6,750/t DAP on 20 Jul. Around 1,250 t of mill scale was booked at INR 6,700/t DAP Kandla.
The below sheet summarizes confirmed trades/offers of iron and steel products collected by BigMint to help our users keep track of day-to-day trade dynamics.
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