India: Iron ore concentrate prices edge up in recent deals

• Limited mining activity, low stocks with sellers tighten concentrate supply
• Stable pellet prices, firm Odisha iron ore market support higher offers

India’s iron ore concentrate prices remained steady this week, supported by stable pellet prices and firm sentiment in Odisha’s iron ore market. Demand remained moderate, while material availability continued to be tight as mining operations have yet to resume fully following extended rainfall.

BigMint’s bi-weekly assessment for Fe 62% concentrate inched up by INR 50/t ($0.5/t) to INR 5,000/t ($53/t) ex-works on 14 October 2026. Seller indications ranged from INR 4,700/t ($49/t) to INR 5,200/t ($55/t), while Fe 63% concentrate offers were heard at around INR 5,300/t ($58/t). Prices remained supported by limited supply and stable pellet prices.

During the week, some sellers returned to the market with fresh offers after completing dispatches against previous orders. Meanwhile, other suppliers continued fulfilling earlier commitments.

The market continued to face raw material shortages as mining operations in Madhya Pradesh have not yet resumed fully. Extended rainfall has delayed mining activities, with dewatering, damaged roads, collapsed mine benches and ongoing mine development work holding back production. Market participants indicated that existing stocks have been used over the past four months and are now nearing exhaustion, further tightening concentrate availability.

A Jabalpur-based trader told BigMint that “fresh purchases remained limited as customers had sufficient stocks and were not accepting new offers.”

Meanwhile, a Jabalpur-based seller said that “mining operations were yet to restart due to prolonged rainfall and associated infrastructure damage.” The seller added that it could take another 15 days to one month for mining to resume, while existing inventories were nearing exhaustion.

Recently, the Madhya Pradesh government has made Radio Frequency Identification (RFID) tags mandatory for vehicles transporting minerals, following the introduction of high-security registration plates. The Transport and Mining departments are coordinating implementation, with vehicle owners being given one month to install the required tags. The system aims to improve mineral transportation monitoring, track vehicle movements and curb unauthorised transportation and royalty evasion.

The new regulations may add to compliance requirements for miners and transporters, while delayed mining restarts continue to constrain supply. With inventories depleting and fresh production yet to resume, concentrate availability is expected to remain tight in the near term. However, moderate demand may limit further price increases until mining operations recover and fresh material becomes available.

Rationale

• Two (2) trades were recorded in this publishing window, which were not taken into consideration. Therefore, this category received a 0% weightage.
• Nine (9) offers and indicative prices were heard, of which five (5) were taken into consideration as T2 trades, receiving 100% weightage.

Factors supporting market dynamics

• Raipur’s pellet prices remain firm w-o-w: PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63% ± 0.5%) index for Raipur, remained firm at INR 11,900/t ($125/t) DAP Raipur on 13 October 2026 amid limited availability, as several pellet plants in Chhattisgarh have undertaken or planned maintenance shutdowns.
• Odisha iron ore prices remain unchanged w-o-w: BigMint’s Odisha Fe 62% iron ore fines assessment stood stable w-o-w at around INR 5,550/t ($58/t) ex-mines in the week ending 10 October 2026. Limited buying interest and cautious procurement continued to weigh on trading activity, restricting upward price movement. Although the monsoon season has ended, mining operations and dispatches are expected to recover gradually. The resumption of mining activities could improve material availability and exert further downward pressure on prices if demand remains weak.

Outlook

Iron ore concentrate prices are expected to remain stable to increase slightly in the coming week, supported by tight material availability, delayed mining operations and stable pellet prices. However, moderate demand may limit significant price gains.