Orissa Mining corporation , a state owned mining company fetched higher bids for iron ore in quarter I.
Prices are reported to have gone up by Rs 300-500/t from previous quarter.
” Bids have gone up by Rs 400-500/t looking at higher sponge prices. Also supply constrain from private miners, buyers are willing to pay higher.” said a market participant based in Cuttack (Orissa).
OMC (Koira) Prices
10-40mm – 62% Fe- Rs 6,002 (Current) Rs 5,751 (Previous)
5-18mm -65% Fe – Rs 7,611 (Current) Rs 6511 (Previous)
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