Indian Iron ore lumps prices which are hovering at almost all time high are unlikely to show any sign of softness said miners.
” There is not much availability of iron ore in the market as production limit has been tightened by Indian Bureau of Mines. Also local formalities at mining office in Orissa keeps it difficult to get the permit.” said a miner based in Bhubhaneshwar.
We do not see any sign of correction at least in next few months, he further added.
Currently 5-18mm of 62% Fe is hovering around Rs 6500-6800/t Ex-Mines Orissa, where as bigger miners are offering around 63% at Rs 7500/t (Loaded to wagons) said market sources.
Most of mines in Odisha still remain closed either on environmental violation or excavating beyond permissible limit.
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