Odisha’s largest merchant iron ore producer – Rungta Mines has increased lump prices by INR 250-300/MT w.e.f today.
Rungta Mines is the largest iron ore producer in Odisha with share of 24% in state’s iron ore production. It recorded production of 14.5 MnT (Apr-Nov’16).
Prior to this, Essel Mining also raised iron ore prices by INR 125-275/MT w.e.f 29 Dec’16 and it is expected that other Odisha merchant miners are also likely to come up with price revision shortly.
Prevailing optimistic market sentiments amid hike in semi-finished steel prices has led to rise in iron ore prices. C-DRI prices in eastern India have surged by INR 1,200-1,600/MT M-o-M.
Rungta Mines iron ore prices w.e.f 04 Jan’17
|
Size (mm) |
Grade (Fe %) | Prices in INR/MT |
W-o-W |
| 5-18 | 62 | 3,600 | +300 |
| 10-30 | 62 | 3,400 | +250 |
| Fines | 63 | 1,675 | +125 |
Prices loaded to wagons & incld Royalty, DMF & NMET
It is to be noted that Rungta Mines fines prices since Oct’16 which was earlier announced as INR 1,750/MT has been revised to INR 1,550/MT. Now further on INR 1,550/MT company has raised prices by INR 125/MT to INR 1,675/MT (loaded to wagons)
Source: SteelMint Research
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