India: An Odisha Miner Traded Lump at INR 1,900/MT

Increased production and comparatively lesser dispatches have put Odisha iron ore prices under pressure.

According to market sources, a major Odisha based merchant miner has recently cut iron ore lump prices by INR 100/MT.

As per trade sources, an Odisha based merchant miner is seen offering 5-18 mm lump (Fe 63%) at INR 1,900/MT (ex-mines, including Royalty, DMF & NMET). In talk with market participants, SteelMint received mixed response. Few sources shared that these offers are only for bulk quantity purchases (more than 5 rakes booking) while some said that these are open market offers.

Presently Odisha 5-18 mm (Fe 63%) lump offers are seen in the range of INR 1,900-2,025/MT (ex-mines, including Royalty, DMF & NMET).