It is reported that Orissa Mining Corporation, a state mining company got bids lower by 5-7% for its high grade iron ore lumps.
“Tendered prices are lower by Rs 200-300/t from last prices looking at weak demand ,sponge manufacturers have cut their bids.” said a participant
Current Bids
Barbil
10-40mm 62% = Rs 4,311 (Previous Rs 4,251)
Gandhamardan
10-180mm 65% = Rs 4,029 (Previous Rs 4,550)
5-18mm 64% = Rs 6,045 (Previous Rs 6,161)
5-18mm 65% = Rs 6,700 (Previous Rs 6,401)
Koida
10-40mm 62% = Rs 5,606 (Previous Rs 6,002)
5-18mm 65% = Rs 7,404 (Previous Rs 7,611)
Daitari
10-40mm 62% = Rs 4,005 (Previous Rs 4,338)
He further added that number of participants were also less this time and private miners miners might also cut prices in coming weeks, which is offered much higher than state miners.
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