With sponge iron prices soaring high on expensive imports of scrap. Odisha miners have yet again raised their offers for iron ore by Rs 300 per ton w.e.f from 17th Jan 2012.
Odisha based miners like KJS Ahluwalia and Kaypee Enterprises have raised their ore prices by Rs 300 per ton and other miners are on verge of rising their prices too. It is reported that prices have been increased on lumps where as fines prices have been untouched ( on low export prices).
Experts feel that iron ore prices might not sustain in near term as Rupee has started recovering (which will make imports of scrap cheaper).On the other hand, rumors of NMDC cutting its 4th quarter iron ore prices will keep market players in a dilemma.
Current Prices
KJS
5-18mm (63%)= Rs 6470
10-30mm(61%)= Rs 5770
Fines (63%)= Rs 2620
Kaypee
5-18mm (63%)= Rs 6820
10-30mm(63%)= Rs 6330
Prices incld royalty, taxes extra.
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