- Tight supply, controlled dispatches help support prices
- Sellers keep offers firm, having secured sufficient orders
The iron ore concentrate market in central India continued to exhibit a firm and stable trend, supported by supply tightness and strong seller sentiment. BigMint’s bi-weekly assessment for India’s iron ore concentrate remained steady at INR 4,700/tonne (t) ($53/t) ex-works Jabalpur as of 12 November 2025, unchanged from the previous evaluation. This reflects a well-balanced market, with sellers holding prices firm despite cautious buying sentiment, indicating confidence in underlying fundamentals.
Meanwhile, Fe 63% concentrate was actively heard trading between INR 4,850-5,000/t ($55-56/t) ex-works, with bulk deals concluded at these levels. Consistent trade momentum, combined with controlled supply and disciplined seller behaviour, helped sustain the price range. Many participants highlighted that producers refrained from aggressive selling and prioritised fulfilment of prior bookings, which contributed to the firmness in sentiment.
According to sources, most sellers have already secured sufficient bookings for the current month, keeping spot activity limited. Price adjustments or new offers are expected only after ongoing dispatches are completed. This controlled flow of material has prevented any surplus from building up in the market.
A Jabalpur-based buyer told BigMint, “We are currently keeping bookings on hold, expecting a slight correction before booking fresh material.” However, sellers remain largely unconcerned about any near-term downside, citing steady procurement trends and supply constraints as key factors that would keep prices elevated.
A local seller shared, “Prices are likely to remain steady or even move up slightly in the coming weeks, given that overall availability of concentrate remains tight across central India.” Miners are also said to be dispatching material at a controlled pace, which is preventing any oversupply and maintaining market firmness.
Rationale
- Two (2) trade was recorded in this publishing window in which one (1) was taken into consideration, receiving a 50% weightage.
- Nine (9) offers and indicative prices were heard, and eight (8) were taken into consideration as T2 trades, receiving 50% weightage.
Factors supporting iron ore concentrate prices
- Odisha iron ore prices rise w-o-w: BigMint’s Odisha iron ore fines (Fe 62%) index rose by INR 100/tonne (t) w-o-w to INR 5,400/t ($61/t) ex-mines as of 8 November 2025, reflecting a firm undertone in the market despite limited trading activity. Prices strengthened amid restricted supply, steady dispatches of previously booked cargoes, and limited fresh offers from miners, who preferred to hold material rather than reduce prices. Although buying sentiment in the semi-finished and sponge iron segments remained subdued due to weaker steel margins, the tight availability of high-grade ore and cautious selling strategy of miners lent solid support to the market, keeping Odisha’s iron ore prices stable to slightly bullish in the near term.
- Restricted availability of high-grade ore tightens market: With miners primarily dispatching previously booked cargoes and fresh high-grade supplies remaining limited, the overall market balance has tilted towards tightness. This grade-specific scarcity has led buyers to accept existing price levels, reinforcing market stability and keeping concentrate prices firm despite subdued trading sentiment.
Outlook
The iron ore concentrate market is expected to remain stable to slightly up in the near term, amid ongoing supply tightness and firm seller sentiment. Limited availability of high-grade material and steady procurement from key buyers will continue to support prices. Unless there is a sudden rise in supply or major demand correction, prices are likely to hold firm through the coming weeks.
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