Following the suit, Essel Mining and Indrani Patnaik have further raised lump prices by INR 250/MT. Prior to this other major merchant miners in Odisha namely Rungta, Serajuddin, KJS Ahluwalia and Kaypee Enterprises have raised iron ore prices.
Iron ore prices in Odisha have moved up over sharp hike in sponge iron prices. Since beginning of Sept’16, major Odisha based miners have raised lump prices by INR 600-700/MT and fines prices by INR 100-200/MT in three tranches.
Sponge iron prices in eastern regions of India have moved up further. C-DRI (80 FeM) prices in Rourkela is assessed at INR 13,600/MT (ex-works), up by INR 1,600/MT M-o-M.
Odisha iron ore prices as on 03 Oct’16
|
Miner |
Size (mm) | Grade (Fe%) |
Prices in INR/MT |
| Rungta Mines (Joda)* | 5-18 | 62 | 3,300 |
| 10-30 | 62 | 3,150 | |
| Fines | 63 | 1,750 | |
| Serajuddin Mines | 5-18 | 63 | 2,500 |
| Fines | 63 | 1,200 | |
| Essel Mining (Koira) | 5-18 | 62 | 2,700 |
| 10-30 | 61 | 2,600 | |
| Fines | 63 | 1,150 | |
| KJS Ahluwalia | 5-18 | 63 | 2,650 |
| 10-30 | 61 | 2,550 | |
| Fines | 63 | 1,250 | |
| Kaypee Enterprises | 5-18 | 63 | 2,550 |
| 10-30 | 62 | 2,450 | |
| Fines | 63 | 1,260 | |
| Indrani Patnaik* | 5-18 | 63 | 2,850 |
| Fines | 62 | 1,550 |
Ex-mines prices in INR/MT
*Prices as per loaded to wagons & inclusive of Royalty, DMF & NMET
Source: SteelMint Research
Leave a Reply