Odisha: Merchant miners in Odisha kept iron ore prices unchanged for first half of Apr’16. However towards the beginning of the month, there were chances that miners may raise lump offers slightly but decline in sponge iron prices did not support the rise in iron ore prices.
For the 2nd half of the month, there are some speculations arising that fines prices may reduce by INR 100-150/MT over less buying interest resulting in increased stock.
|
Miner |
Size (mm) | Grade (Fe %) |
Prices in INR/MT |
| Rungta Mines (Joda)* | 5-18 | 62 | 2,750 |
| 10-30 | 62 | 2,650 | |
| Fines | 62 | 1,650 | |
| Serajuddin Mines | 5-18 | 63 | 2,150 |
| Fines | 63 | 1,300 | |
| Essel Mining (Koira) | 5-18 | 62 | 2,250 |
| 10-30 (Sc) | 61 | 1,600 | |
| Fines | 63 | 1,275 | |
| KJS Ahluwalia | 5-18 | 63 | 2,350 |
| 10-30 | 62 | 2,200 | |
| Fines | 63 | 1,275 | |
| Kaypee Enterprises | 5-18 | 63 | 2,200 |
| 10-30 | 62 | 2,100 | |
| Fines | 63 | 1,275 | |
| Indrani Patnaik | 5-18 (Cr) | 63 | 2,150 |
| 10-30 | 62 | 2,050 | |
| Fines | 62 | 1,250 |
*prices as per loaded to wagons & inclusive of Royalty, DMF & NMET
ex-mines prices & inclusive of Royalty, DMF & NMET
Source: SteelMint Research
Trade-wise:
- KN Ram iron ore prices remain unchanged- 5-18 mm (Fe 63%)-2,500/MT and fines (Fe 63%) – 1,500/MT (Prices in INR/MT are loaded to wagons & including Royalty and DMF)
- Kalinga Mining Corporation (KMC) iron ore prices are as follows: 5-18 mm (Fe 62%)-INR 1,900/MT, 10-30 mm (Fe 62%)-INR 1,750/MT and fines (Fe 62%)-INR 1,350/MT (ex-mines prices & inclusive of Royalty & DMF)
- Sources mentioned that AMTC mines iron ore prices are as follows-5-18 mm (Fe 63)-INR 2,400/MT and fines (Fe 63%)-INR 1,150/MT (ex-mines prices & inclusive of Royalty)
IBM reduces royalty in its recent publication: In the recently published average sale price of Indian Bureau of Mines (IBM) iron ore royalty for Odisha lump (Fe 65% & above) has decreased from INR 526.2/MT to INR 380.3/MT. For Odisha fines (Fe 62% to below Fe 65%) iron ore royalty has reduced from INR 221.4/MT to INR 215.4/MT.
Chhattisgarh: NMDC raised iron ore prices by INR 140-270/MT w.e.f 04 Apr’16. Uptrend in global iron ore prices coupled with increased iron ore sales in Mar’16 favoured price increase in NMDC.
NMDC Iron Ore Prices for Apr’16
|
Size |
Grade (Fe %) | Prices |
Change |
| 10-40 mm, DR CLO | 67 | 2,520 | +270 |
| Baila lump , 6-40 mm | 65 | 2,100 | +150 |
| ROM, 10-150 mm | 65 | 1,890 | +140 |
| Blue Dust/ Fines | 64 | 1,860 | +150 |
Prices w.e.f 04 Apr’16 in INR/MT excluding DMF@30% of royalty
Royalty@15% and other taxes extra
Source: SteelMint Research
Goa: No iron ore e-auction has been conducted so far in this month. Sources mention that Goan govt. may auction 2 MnT iron ore next week. Goan govt. has proposed to reduce the base price for the upcoming e-auction to INR 300-350/MT from previous e-auction base price of INR 500/MT.
Karnataka: In Apr’16 e-auctions, post increase in NMDC base prices, private miners also raised prices. Other major reason behind hike in price was rise in imported scrap prices which made many steel makers to go for sponge iron against scrap.
- NMDC-For Donimalai mines bid prices are as follows: lump (Fe 63%)-INR 1,995/MT and fines (Fe 60.2%)-INR 1,633/MT. In the previous e-auctions conducted in Mar’16 the prices for the same material were as follows-INR 1,748/MT and INR 1,425/MT.For Kumarswamy mines the bid prices has remained as follows: lump (Fe 63.4%)-INR 1,830/MT and fines (Fe 62.1%)-INR 1,613/MT.
- Private miners-For instance, bid prices for lump (Fe 61.8%) of SMIORE was at INR 2,020-2,030/MT in Apr’16 auction which was at INR 1,850-2,030/MT in Mar’16.
Leave a Reply