Odisha based merchant miner-Essel Mining has cut lump prices by INR 150/MT and kept fines prices unchanged.
In tandem with downtrend in global iron ore prices, iron ore prices in domestic market are also witnessing reduction.
Consecutive price cut in iron ore lump has made it a preferable substitute to pellet. And with further price cuts in lump the price gap between lump and fines has narrowing down. For instance the price gap between Odisha lump and fines prices which was INR 1,300/MT in beginning of Oct’15 has now come down to INR 700-800/MT.
Essel Mining (Koira) iron ore prices:
|
|
Grade (Fe %) |
Prices in INR/MT |
|
| 5-18 | 62 | 2,200 | -150 |
| 10-30 (Sc) | 61 | 1,550 | -150 |
| Fines | 63 | 1,425 | 0 |
Ex-mines prices & inclusive of Royalty
Source: SteelMint Research
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