Odisha based merchant miner, Essel Mining, has cut iron ore prices further by INR 50-150/MT. Lump (5-18 mm) prices have fallen by INR 150/MT and fines prices have noticed a decline of INR 50/MT. It had last reduced its prices on 02 Sept’15.
Essel Mining Iron Ore Prices w.e.f 18 Sept’15
| Size | Grade (Fe %) | Prices in INR/MT | Change | |
| Ex- Mines | Loaded to wagons | |||
| 5-18 mm | 62 | 2,800 | 3,150 | -150 |
| 10-30 mm | 61 | 2,150 | 2,550 | -50 |
| 30-80 mm | 61 | 1,950 | 2,300 | -50 |
| Fines | 63 | 1,425 | 1,775 | -50 |
Prices inclusive of royalty
Source: SteelMint Research
Recently, Rungta Mines has also cut iron ore prices by INR 100-350/MT. It looks that other merchant miners might also cut prices further in the days to come by INR 200-300/MT.
Deputy Director of Mines (DDM), Koira mining circle in Sundergarh district of Odisha, has recently issued a letter to all the mining lease holders, asking them to enhance their iron ore production (within the approved EC limits) and dispatches which has compelled the miners to cut prices.
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