Odisha : Merchant iron ore miners in Odisha continue to hold iron ore prices as of now. Few market sources shared that rising sponge iron prices may lead to increase in iron ore prices. Sponge iron prices (C-DRI, 78 FeM) in Durgapur have gone up by INR 600/MT in the last couple of weeks and are presently seen at INR 13,150/MT (delivered).
IBM reduces royalty on low-grade fines – In the recently published circular of average sale price of iron ore, IBM has reduced royalty on fines. For instance, royalty on iron ore fines (Fe 55 to below Fe 58%) has been reduced from INR 104.1/MT to INR 94.4/MT and on fines (less than Fe 55%), royalty has been reduced from INR 73.8/MT to INR 50.3/MT.
Odisha iron ore prices as on 10 Sept’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 | 1,900 |
| 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
Chhattisgrah: NMDC kept iron ore prices unchanged for Sept’16 deliveries amid decent sales observed in the last month. NMDC’s iron ore sales increased by 12% M-o-M and was seen at 2.73 MnT.
NMDC iron ore prices for Sep’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
Other taxes extra
Source: SteelMint Research
Goa: Goan government is to conduct next round of iron ore e-auctions shortly. It has notified tentative lots for 16th e-auction onwards through which the left over quantity of 7.36 MnT iron ore will be auctioned.
Karnataka: Base prices in Karnataka e-auctions remained stable in Sept’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 1,347/MT
Private miners- Base prices of lump (Fe 61.7%) offered by B.Rudra Gouda mines remained unchanged at INR 2,100/MT. Prices of fines (Fe 64%) offered by P. Balasubba Setty and Sons has fallen from INR 1,960/MT to INR 1,830/MT. (All prices mentioned are basic).
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