Iron ore lumps prices in Odisha kept unchanged for last 2 weeks. Prices were hiked up to Rs 400-500/t in last one month said market sources.
“With less imports of scrap over weak rupee, buyers are more keen to buy sponge, which has resulted in improved demand of iron ore.Also looking at nearing monsoons, sponge manufacturers are trying to secure raw material in advance.We anticipate prices to sustain till monsoon.” said a miner based in Bhubaneshwar.
Currently prices for 5-18 mm 62% Fe is offered around Rs 7000-7200/t (Ex Mines), where as big miners are charging Rs 9,000/t (Loaded to wagons).Where as fines prices are kept unchanged for long on weak demand from export market and high freight and export duty.
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