Odisha: Odisha based merchant miners kept iron ore prices unchanged in 1st week of Aug’16. Recently a miner is heard to have reduced sized ore prices by INR 100/MT to INR 1,900/MT (ex-mines, incld Royalty, DMF & NMET) owing to falling dispatches leading to stockpile. However other miners expect less revision in 2nd half of the month.
Odisha iron ore prices as on 12 Aug’16
|
Miner |
Size (mm) | Grade (Fe%) |
Prices in INR/MT |
| Rungta Mines (Joda)* | 5-18 | 62 | 2,550 |
| 10-30 | 62 | 2,400 | |
| Fines | 63 | 1,550 | |
| Serajuddin Mines | 5-18 | 63 | 2,000 |
| Fines | 63 | 1,100 | |
| Essel Mining (Koira) | 5-18 | 62 | 2,025 |
| 10-30 | 61 | 1,375 | |
| Fines | 63 | 1,050 | |
| KJS Ahluwalia | 5-18 | 63 | 2,025 |
| 10-30 | 61 | 1,900 | |
| Fines | 63 | 1,075 | |
| Kaypee Enterprises | 5-18 | 63 | 1,925 |
| 10-30 | 62 | 1,850 | |
| Fines | 63 | 1,090 | |
| Indrani Patnaik | 5-18 | 63 | 2,000 |
| 10-30 | 62 | 1,950 | |
| Fines | 62 | 1,200 |
Ex-mines prices in INR/MT
*Prices as per loaded to wagons & inclusive of Royalty, DMF & NMET
Source: SteelMint Research
IBM increased royalty on fines (Fe 55% to less than Fe 58%) – In the recently published circular of average sale price of iron ore, IBM has raised rouyalty on fines (Fe 55 to less than Fe 58%) from INR 89.3/MT to INR 104/MT. However for fines (Fe 62-below 65%) royalty has been decreased from INR 169.8/MT to INR 160.7/MT. Royalty on lump (Fe 62-below 65%) has fallen from INR 295.7/MT to INR 280/MT.
Chhattisgrah: Amid decent dispatches and unmoved Odisha iron ore prices, NMDC rolled over iron ore prices for Aug deliveries.
NMDC iron ore prices for Aug’16
|
Size |
Grade (Fe %) |
Prices |
| 10-40 mm, DR CLO | 67 | 1,960 |
| Baila lump , 6-40 mm | 65 | 1,700 |
| ROM, 10-150 mm | 65 | 1,530 |
| Blue Dust/ Fines | 64 | 1,460 |
Prices in INR/MT excluding DMF@30% of royalty and NMET
Royalty@15% and other taxes extra
Source: SteelMint Research
Goa: Owing to monsoon season, no iron ore e-auction was conducted last month.
Karnataka: Base prices in Karnataka e-auctions remained stable in Aug’16 e-auctions held so far.
NMDC- Base prices of lump (Fe 62.2%) offered by NMDC Donimalai mines stood at INR 1,927/MT and fines (Fe 60.2%) at INR 1,650/MT. Base prices for NMDC Kumaraswamy mines are currently as follows: fines (Fe 59%) stood at INR 1,348/MT and for lump (Fe 63.6%) stood at INR 1,847/MT.
Private miners- Base & bid prices of Sesa Sterlite’s lump (Fe 61%) stood at INR 1,558/MT (basic) and for fines (Fe 59.3%) remained at INR 975/MT. Base prices of fines (Fe 65%) offered by Vysankere mines is seen at INR 2,025/MT and for lump (fe 65%) it is seen at INR 2,125/MT.
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