Odisha: Essel Mining Increase Iron Ore Prices Up to INR 300/MT

Essel Mining an Odisha based one of the merchant miners have increased its iron ore prices in Sep’17. Lump prices have increased by INR 300/MT and fines by INR 150/MT.

India’s largest merchant iron ore producer – Rungta Mines and others like Serajuddin Mines, KJS Ahluwalia and Kaypee Enterprises has shown no indication of any increment in their current iron ore prices until SteelMint last spoke to our resources till date.

In the month of August the Odisha miners had increased the Lump prices by upto INR 600/MT and Fines prices by up INR 300/MT by two revisions but Essel Mines had increased the prices only once then. The price hike was due to the considerable increase in sponge prices last month. The shortage of sponge due to reduced production has been pushing its prices up lately

Essel Mining iron ore prices as on 4^th Sep’17

Ex-mines prices (inclusive of Royalty, DMF & NMET), w.e.f. 1^st Sep’17
Source: SteelMint Research