Iron ore (CLO) demand has improved in domestic market in September said miners and traders based in Odisha.
“Ore prices have corrected almost Rs 1,500/t in last few months though sponge prices have not corrected in that proportion. Demand has been good from sponge manufacturers specially from large and medium plants.
Demand for iron fines have dropped drastically as exports have dried out.It will take some time for fines demand to pick up from domestic plants.” said a miner based in Bhubhaneshwar.
On the other hand traders say that iron ore lump prices in Odisha are at decent level. Sponge manufacturers are willing to take positions, though liquidity crunch is a concern for the industry.
Chances of prices going down further are less, most of the miners have kept their offers unchanged.
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