Major merchant miners in Odisha continue to keep offers unchanged as of now. In talk with Odisha based miners, SteelMint learned that iron ore production is low owing to prevailing monsoon season.
As for the demand the miners shared that buying is stable, however some market participants highlighted that buying inquiries for lump is low comparatively as sponge manufacturers are seen preferring pellets.
Serajuddin Mines had announced price cut of INR 100/MT in fines on 27th, Jul’17.
State owned miner – Orissa Mining Corporation (OMC) has reduced lump base prices by INR 200-450/MT for the upcoming e-auction which is scheduled on 04 Aug’17.
Odisha merchant miners’ prices as on 01 Aug’17
|
Miner |
Size (mm) |
Grade (Fe %) |
Prices in INR/MT |
| Rungta Mines (Joda)*
|
5-18 |
62 |
3,500 |
|
10-30 |
62 |
3,150 |
|
|
Fines |
63 |
1,550 |
|
| Serajuddin Mines |
5-18 |
63 |
2,700 |
|
Fines |
63 |
1,100 |
|
| Indrani Patnaik |
5-18 |
63 |
2,900 |
|
10-30 |
62 |
2,550 |
|
|
Fines |
62 |
1,300 |
|
| Essel Mining |
5-18 |
62 |
3,000 |
|
10-30 |
61 |
2,900 |
|
|
Fines |
63 |
1,100 |
Ex-mines prices in INR/MT inclusive of Royalty, DMF & NMET; GST @ 5% extra
*Prices as per loaded to wagons & inclusive of Royalty, DMF & NMET; GST @ 5% extra
Prices mentioned are for booking made for a rake
Source: SteelMint Research
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