Iron ore miners in Odisha cut offers majorly on falling steel prices in Indian market.Sources say that current power crisis and rising power cost has put pressure on sponge iron prices and demand.
Current offers for 5-18mm of 63% is hovering in the range of Rs 6,000-6,400/t (ex-mines), where as big miners are charging Rs 6,900-7,200/t (loaded to Wagons).
Demand for iron fines has increased on bulk buying from JSW and Essar steel for their pellet plants for 63% Fe is being offered in the ranhe of Rs 2,250-2,500/t (Ex-Mines).
Falling iron ore prices have weighed on Pellet (63%) prices in Odisha, manufacturers have cut offers to Rs 7,800-8,000/t (Loaded).
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