Merchant miners in Odisha are facing pressure from buyers after NMDC’s recent price revision. NMDC has cut iron ore prices by INR 90-220/MT w.e.f 04 May’16. Following this buyers have also started inquiring for any revision in Odisha iron ore prices.
An Odisha based merchant miner in conversation with SteelMint shared-”Iron ore prices in Odisha may experience pressure as NMDC has cut iron ore prices sharply by INR 90-220/MT for May’16 deliveries. Buyers are expecting price cut in Odisha ore too which has build pressure over the miners”.
Another merchant miner shared that as of now prices continue to remain at similar levels, however we may give quantity discounts accordingly to the buyers who purchase iron ore in considerable quantity. The price scenario is expected to become more clear in a couple of days.
Odisha iron ore prices as on 05 May’16
|
Miner |
Size (mm) | Grade (Fe %) |
Prices in INR/MT |
| Rungta Mines (Joda)* | 5-18 | 62 | 2,750 |
| 10-30 | 62 | 2,650 | |
| Fines | 63 | 1,550 | |
| Serajuddin Mines | 5-18 | 63 | 2,150 |
| Fines | 63 | 1,300 | |
| Essel Mining (Koira) | 5-18 | 62 | 2,250 |
| 10-30 (Sc) | 61 | 1,600 | |
| Fines | 63 | 1,275 | |
| KJS Ahluwalia | 5-18 | 63 | 2,275 |
| 10-30 | 62 | 2,150 | |
| Fines | 63 | 1,150 | |
| Kaypee Enterprises | 5-18 | 63 | 2,200 |
| 10-30 | 62 | 2,100 | |
| Fines | 63 | 1,175 | |
| 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, DMF & NMET
ex-mines prices & inclusive of Royalty, DMF & NMET
Source: SteelMint Research
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