India: Iron ore concentrate prices stay flat for fourth consecutive week

• Hike in pellet prices, firm iron ore prices in Odisha provide support 
• Restocking activities in China opens up prospects for exports

BigMint’s bi-weekly India iron ore concentrate index remained firm at INR 4,800/tonne ($54/t) exw-Jabalpur, unchanged from the previous assessment on 6 September 2025. Prices for Fe 63% iron ore concentrate hovered near INR 5,100/t ($58/t) exw.

The hike in pellet prices, along with firm Odisha iron ore prices, has lent support to iron ore concentrate prices. At the same time, sellers remain focused on clearing pending bookings, suggesting that fresh orders will likely be considered only after existing commitments are fulfilled.

A Jabalpur-based seller mentioned that supply chain constraints have eased, leading to smoother dispatches of material. “This has brought some relief to market participants,” he said adding that iron ore concentrate prices are expected to remain positive in the near term, driven by steady demand from the finished steel sector.”

Another Jabalpur-based seller observed that “market sentiment remains positive in the short term”. He attributed this optimism to ongoing supply uncertainties that continue to influence buying behaviour. He further noted that restocking activities in China are also providing additional support to market sentiment.”

Rationale

• No trade was recorded in this publishing window.
• Seven (7) offers and indicative prices were heard, of which eight (6) were taken into consideration as T2 trades, receiving 100% weightage.

Factors affecting iron ore concentrate prices

• Pellet prices up INR 200/t ($2/t) in Raipur: Raipur-based pellet producers raised their offers for Fe 63/63.5% (+/-0.5%) material by INR 200/t ($2/t) to INR 10,200-10,500/t ($116-119/t) exw recently. However, some deals were concluded at previous offers. Offers were raised following a hike in sponge iron (PDRI) and semi-finished steel prices. PDRI increased by INR 1,150/t w-o-w to INR 24,350/t exw-Raipur yesterday.
• Odisha iron ore fines prices remain stable w-o-w: BigMint’s Odisha iron ore fines (Fe 62%) index remained stable w-o-w at INR 5,500/tonne (t) ($62.5/t) ex-mines on 6 September. Prices have remained firm since mid-June, reflecting material scarcity coupled with active demand. Buying interest for lower-grade fines continued, supported by improved export activity. Market participants also highlighted a slight uptrend in downstream steel prices, which further aided iron ore demand. However, buyers stayed cautious as miners’ current offers remain on the higher side.

Outlook

Prices are expected to remain positive in the near term, underpinned by healthy demand from the steel sector and resilient pellet prices. Supply uncertainties and Chinese restocking could provide further upward momentum.