Merchant miners in Odisha continue to hold iron ore prices as of now. Few market participants shared that there are less chances of revision in prices in the near term.
Trade sources shared that lesser iron ore rake availability has impacted the iron ore dispatches in Odisha.
Merchant miners have kept offers unchanged as of now after the recent decline in sponge iron prices.
Orissa Mining Corporation (OMC) conducted an e-auction for 778,900 MT iron ore today (03 Feb’17). The miner raised base prices on few lots by INR 100-200/MT. However for other lots, prices remained unchanged.
Odisha iron ore prices as on 03 Feb’17
|
Miner |
Size (mm) | Grade (Fe%) |
Prices in INR/MT |
| Rungta Mines (Joda)* | 5-18 | 62 | 3,600 |
| 10-30 | 62 | 3,400 | |
| Fines | 63 | 1,675 | |
| Serajuddin Mines | 5-18 | 63 | 2,700 |
| Fines | 63 | 1,350 | |
| Essel Mining (Koira) | 5-18 | 62 | 3,050 |
| 10-30 | 61 | 2,950 | |
| Fines | 63 | 1,275 | |
| KJS Ahluwalia | 5-18 | 63 | 2,900 |
| 10-30 | 61 | 2,750 | |
| Fines | 63 | 1,375 | |
| Kaypee Enterprises | 5-18 | 63 | 2,800 |
| 10-30 | 62 | 2,650 | |
| Fines | 63 | 1,385 |
Ex-mines prices in INR/MT
*Prices as per loaded to wagons & inclusive of Royalty, DMF & NMET
Source: SteelMint Research
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