The decision has been taken, looking at halt in exports from India’s top Iron ore exporting state Goa prior to mining ban and constant decline in Chinese spot Iron ore fines prices.
Since, Nov’14, Iron ore sale via e-auction route in Goa has been kept on hold. 10.1 MnT of Iron ore stockpile is yet to be offered for sale. In FY15, 0.6 MnT Iron ore has been exported from Goa.
Considering the prevailing prices of Fe 58% Iron ore fines at USD 35/MT FOB India, which is mostly exported from Goa, exporters realizations shall stand at nearly USD 7/MT only.
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