India’s largest merchant iron ore producer – Rungta Mines has today announced a further price hike of about INR 300/MT in lump and INR 150/MT in fines.
Prior to this the miner had raised the prices on 16th of Aug’17 upto INR 300/MT. The second revision in a row for the month is attributed to mainly to sharp rise in sponge prices and strong pellet offers.
Rungta Mines iron ore prices
|
Size |
Grade (Fe %) |
Prices in INR/MT |
Change |
|
5-18 |
62 |
4,100 |
+300 |
|
10-30 |
62 |
3,750 |
+300 |
|
Fines |
63 |
1,850 |
+150 |
Prices mentioned are loaded to wagons & incld Royalty, DMF & NMET wef 22nd , Aug’17.
GST@5% extra
Source: SteelMint Research
Sponge iron prices in east India (Durgapur) are currently hovering at INR 18,300/MT, up by INR 1,300/MT on monthly basis. Bullish sentiments along with hike in sponge and pellet offers have resulted miners to raise prices.
Odisha based other major miners namely KJS Ahluwalia and Kaypee Enterprises have also raised iron ore prices for the 2nd time in row by about INR 300/MT since yesterday. It is expected that other miners may also revise their offers soon.
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