Few big iron ore miners in Barbil ,Odisha have cut offers for iron fines up to Rs 300/t looking at weak prices in international market.
Iron ore fines, which is majorly exported to China is under going a bad phase as falling spot prices in China, high export duty and freight charges have weighed upon export market from India.
KJS Ahluwalia, a big miners has cut its prices to Rs 2,050/t (Ex- Mines, Royalty paid) for 63% Fe fines, where as Indrani Patnaik has reduced its offers to Rs 2,650/t (loaded to wagons, royalty paid).
Other miners are yet to cut prices this week.
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