Serajuddin Mines in Odisha Reduce Iron Ore Prices Up to INR 400/MT

Serajuddin Mines that is one of the largest Odisha based merchant miners have today announced reduction in its iron ore prices. Lump prices have come down by INR 400/MT(USD 6/MT) and fines prices have come down by INR 150/MT(USD 2.3/MT).

Towards to the beginning of Jun’17 two major merchant miners from Odisha namely Rungta Mines and Essel Mines had cut lump prices by INR 250/MT and fines by INR 75/MT, owing to decline in sponge prices, however Serajuddin Mines had not revised the prices then.

Serajuddin Mines occupied a share of 12% in Odisha’s iron ore production for FY17 and remained Odisha’s  2nd largest merchant iron ore producer. Its output was recorded at 10.89 MnT in FY17 against 10.15 MnT in previous fiscal.

Serajuddin Mines iron ore prices

Ex-mines prices in INR/MT, including Royalty, DMF & NMET wef 22^nd Jun, 2017
Source: SteelMint Research