Odisha: Serajuddin Mines Hike Iron Ore Prices Up to INR 200/MT

One of the major Odisha based merchant miners – Serajuddin Mines has increased lump prices by INR 200/MT and fines prices by INR 150/MT.

The miner has EC limit of 15.15 MnT pa. The miner has produced 6.54 MnT iron ore from Apr-Nov’16. However iron ore dispatches in the same period stood at 6.57 MnT.

Odisha iron ore prices have gained momentum this month with increase in sponge iron prices and hike in finished steel prices.

Serajuddin Mines Iron Ore Prices w.e.f 10 Jan’17

Ex-mines prices in INR/MT including Royalty, DMF & NMET
Source: SteelMint Research

It is to be noted that another Odisha miner – Indrani Patnaik is presently not offering material in domestic market. So far in this fiscal (till Nov’16) miner’s iron ore production stood at 3.26 MnT. The miner has EC limit of 4 MnT pa.