Serrajuddin mines, a major private Iron ore miner in Odisha
has announced to cut offers by Rs 800/MT for Iron ore lumps.
Iron ore lumps 5-18 mm of Fe 63% now costs Rs 6,200/MT (Ex
Mines) & Rs 6,500/MT (Loaded to wagon). Whereas, bookings are closed for
Iron ore lumps 10-30.
According to market players, “The price cut comes in line
with falling sponge iron prices and other miners are also expected to follow
suit and cut prices in the month of August”.
NMDC is also expected to revise its prices in August.
According to sources, “it may cut prices by Rs 400-500/MT after watching the market
trend in the first week of August.”
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