Odisha: Merchant iron ore miners in Odisha raised prices further in 1st week of Oct’16 amid sharp increase in sponge 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. However as per market sources report, Odisha iron ore prices may not witness major fluctuation in 2nd half of this month.
Odisha iron ore prices
|
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
Trade-wise: KN Ram iron ore prices are as follows: 5-18 mm (Fe 63%)-INR 2,925/MT (Prices in INR/MT are loaded to wagons & including Royalty and DMF).
Chhattisgarh: The miner raised lump prices by INR 400-460/MT, ROM by INR 360/MT and fines prices by INR 300/MT. Improved supply from Bailadila mines, uptrend in sponge iron prices as well as Odisha iron ore prices led to increase in hike in NMDC prices.
NMDC iron ore prices for Oct’16
|
Size |
Grade (Fe %) | Prices |
M-o-M |
| 10-40 mm, DR CLO | 67 | 2,420 | +460 |
| Baila lump , 6-40 mm | 65 | 2,100 | +400 |
| ROM, 10-150 mm | 65 | 1,890 | +360 |
| Blue Dust/Fines | 64 | 1,760 | +300 |
F.O.R prices in INR/MT w.e.f 05 Oct’16
Royalty, DMF, NMET & other taxes extra
Source: SteelMint Research
Goa: So far in this month, two iron ore e-auctions have been conducted on 04 and 10 Oct’16. Base price in both the e-auctions remained at INR 500/MT for all material type offered across all grades. The 16th e-auction conducted on 04 Oct’16 fetched very good response and for most of the lots bids remained close to base price. However for some lots bids went high against base price by INR 200/MT in fines, INR 100-920/MT in ROM and INR 80/MT in lump.
Lot of ROM (Fe 62.95%) located at Vagus jetty fetched bids at INR 1,420-1,430/MT. Fines (Fe 55-57.7%) located at Surla jetty which received bids at INR 720/MT.
Karnataka: NMDC’s iron ore base prices in Karnataka e-auctions moved up in Oct’16. NMDC- Base prices of lump (Fe 62.2%) offered by NMDC Donimalai mines stood at INR 2,286/MT (up by INR 360/MT M-o-M) and fines (Fe 60.2%) at INR 1,899/MT (up by INR 250/MT M-o-M). Base prices for NMDC Kumaraswamy mines are currently as follows: fines (Fe 60%) stood at INR 1,678/MT (up by INR 245/MT M-o-M).
Private miners- Base prices of lump (Fe 61.5%) offered by B.Rudra Gouda mines remained unchanged at INR 2,100/MT. (Karnataka e-auction prices mentioned are basic).
Leave a Reply