Odisha based miner, Indrani Patnaik has reduced fines prices by upto INR 300/MT and lump prices by upto INR 750/MT.
Prices have been cut on account of expected resumption of closed mines in Odisha, which will significantly increase supply in the state.
Recently, the state government, while considering the recommendations of the inter-departmental committee, had allowed reopening of 29 mines, including 26 which had remained closed following a Supreme Court verdict in May, 2014. Of these, 25 are iron and manganese ore mines. The mines will be reopened as per the provisions of the new Mines and Mineral (Development and Regulation) Act, 2015 which allowed operation of the non-captive mines till 2020 and captive mines till 2030 as per sections 8(A) 5 and 8(A) 6.
Indrani Patnaik Iron Ore Prices
| Size (mm) | Grade | Prices | Change | |
| Ex-Mines | Loaded into wagons | |||
| 5-18 mm | 63 | 3,650 | 4,000 | -750 |
| 10-30 mm | 62-63 | 3,150 | 3,500 | -550 |
| Blue Dust/Fines | 62-63 | 1,500 | 1,850 | -300 |
| Blue Dust/Fines | 60 | 1,150 | 1,500 | -250 |
Prices in INR/MT
Prices w.e.f midnight 07 May’15
Source: SteelMint
The miner sold 0.2 MnT Iron ore in Apr’15.
Indrani Patnaik Mines Iron Ore Dispatches in Apr’15
|
Iron Ore Buyers |
Quantity |
| Bhushan Steel | 53,471 |
| Essar Steel India | 50,028 |
| Ankit Metal And Power | 19,193 |
| Electrosteel Steels | 11,550 |
| Ardent Steel | 7,700 |
| C.P. Sponge Iron | 7,600 |
| Shyam Metalics And Energy | 7,533 |
| Orissa Manganese And Minerals | 3,850 |
| Sarda Energy And Minerals | 3,850 |
| Shri Bajrang Power And Ispat(Tilda Division) | 3,850 |
| Rashmi Cement | 3,847 |
| Rashmi Metaliks | 3,844 |
| Maan Steel And Power | 3,800 |
| Monnet Ispat And Energy | 3,800 |
| Neo Metaliks | 3,799 |
| Kunj Bihari Steel | 3,798 |
| Shivam Iron And Steel | 3,797 |
| Ms Sky Alloys And Power | 3,788 |
| Kalindi Ispat | 3,780 |
| Trimula Sponge Iron | 3,747 |
| Pooja Sponge | 313 |
| Total | 206,939 |
Quantity in MT
Source: Odisha Government
Yesterday, another major miner Serajuddin Mines has also reduced prices by upto INR 500/MT over falling sales & increased supply of Iron ore in domestic market.
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