Essel Mining – major iron ore miners in Odisha has decreased its offers today (w.e.f 16th May’20). After the recent price reduction, offers from its Koira mines for lumps 5-18mm (Fe 62% crushed) stands at INR 3,400/MT and for 10-30mm (Fe 63% crushed) stands at INR 3,200/MT (Ex-mines, including Royalty, DMF & NMET) respectively. Prices have come down by around INR 1200/MT against the last revision in Mar’20.
SteelMint assessment for Odisha iron ore lumps 5-18 mm is around INR 3,400-3,600/MT (Ex-mines, including Royalty, DMF & NMET) as against last week at INR 3,600-3,800/MT (ex-mines, including Royalty, DMF & NMET). However, trades and demand for iron ore continue to remain on the lower side and are yet to pick up, shared traders.
Other merchant miners whose leases expired on 31 Mar’20 are not seen actively offering material in the market.
Odisha- India’s largest iron ore producing state recorded total merchant iron ore dispatches at 1.31 MnT in Apr’20, down 79% as against 6.34 MnT in Mar’20. The figures exclude movement for export and dispatches of miners- SAIL & Tata Steel.
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