Odisha’s major merchant miner-Rungta Mines has today (03 Mar’16) revised iron ore prices. Lump prices have moved up by INR 200/MT and fines prices have increased by INR 100/MT.
Rungta Mines remains the largest merchant iron ore producer in the state and has produced 13.9 MnT iron ore in this fiscal by Jan’16.
Rungta Mines iron ore prices w.e.f 03 Mar’16
|
Size (mm) |
Grade (Fe %) | Prices in INR/MT |
Change |
|
Joda mining circle |
|||
| 5-18 | 62 | 2,750 | +200 |
| 10-30 | 62 | 2,650 | +200 |
| Fines | 63 | 1,650 | +100 |
| Koira mining circle | |||
| 5-18 | 62 | 2,750 | +200 |
| 10-30 | 62 | 2,650 | +200 |
| Fines | 63 | 1,850 | +100 |
Prices as per loaded to wagons & inclusive of Royalty, DMF & NMET
Source: SteelMint Research
Iron ore prices in Odisha are witnessing an increase after notification of DMF by the state govt. and increase in Royalty rate. Royalty on iron ore lump (Fe 65% & above) was earlier at INR 365.1/MT which has now gone up to INR 526.2/MT in the latest released price list.
Prior to this, on 01 Mar’16, KJS Ahluwalia and Kaypee Enterprises have raised lump prices by INR 150-200/MT and fines prices by INR 75/MT.
Few more Odisha miners have revised their prices following the suite, while others are yet to revise prices.
Trade-wise:
KN Ram mines raise lump prices by INR 150/MT and fines prices remain unchanged. Current offers- 5-18 mm (Fe 63%)-2,500/MT and fines (Fe 63%) – 1,500/MT (Prices in INR/MT are loaded to wagons & including Royalty and DMF)
Essel Mining keeps iron ore prices unchanged. 5-18 mm (Fe 63%)-2,050 and fines (Fe 63%)- 1,275. Ex-mines prices in INR/MT and inclusive of Royalty
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